B. Riley Begins Coverage on Solaris Oilfield Infrastructure (SOI)
B. Riley started coverage on shares of Solaris Oilfield Infrastructure (NYSE:SOI) in a research report released on Wednesday, Marketbeat reports. The firm issued a buy rating and a $21.00 price objective on the stock. B. Riley also issued estimates for Solaris Oilfield Infrastructure’s Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.59 EPS, Q4 2019 earnings at $0.59 EPS, FY2019 earnings at $2.04 EPS, Q1 2020 earnings at $0.62 EPS, Q2 2020 earnings at $0.69 EPS, Q3 2020 earnings at $0.74 EPS, Q4 2020 earnings at $0.77 EPS and FY2020 earnings at $2.81 EPS.
Several other equities research analysts have also issued reports on the stock. Johnson Rice set a $24.00 target price on shares of Solaris Oilfield Infrastructure and gave the stock a buy rating in a report on Thursday, February 28th. Imperial Capital lowered their target price on shares of Solaris Oilfield Infrastructure from $24.00 to $17.00 and set an outperform rating for the company in a report on Friday, December 28th. Cowen started coverage on shares of Solaris Oilfield Infrastructure in a report on Thursday, January 24th. They issued an outperform rating and a $20.00 target price for the company. Piper Jaffray Companies restated a buy rating and issued a $17.50 target price on shares of Solaris Oilfield Infrastructure in a report on Thursday, January 3rd. Finally, Zacks Investment Research upgraded shares of Solaris Oilfield Infrastructure from a sell rating to a hold rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Solaris Oilfield Infrastructure presently has a consensus rating of Buy and a consensus target price of $19.94.
Solaris Oilfield Infrastructure stock opened at $16.74 on Wednesday. The stock has a market capitalization of $788.91 million, a PE ratio of 9.91, a PEG ratio of 0.21 and a beta of 1.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.29 and a quick ratio of 1.99. Solaris Oilfield Infrastructure has a 12-month low of $10.50 and a 12-month high of $20.18.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 22nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, March 21st. Solaris Oilfield Infrastructure’s dividend payout ratio is presently 23.67%.
In related news, Director James R. Burke sold 8,809 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $16.76, for a total value of $147,638.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Yorktown Energy Partners X, L. sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $15.58, for a total transaction of $31,160,000.00. The disclosure for this sale can be found here. Company insiders own 14.44% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SOI. California Public Employees Retirement System purchased a new position in Solaris Oilfield Infrastructure in the 2nd quarter worth about $176,000. Northern Trust Corp increased its position in Solaris Oilfield Infrastructure by 33.2% during the 2nd quarter. Northern Trust Corp now owns 310,542 shares of the company’s stock valued at $4,438,000 after purchasing an additional 77,430 shares during the period. Victory Capital Management Inc. increased its position in Solaris Oilfield Infrastructure by 73.9% during the 3rd quarter. Victory Capital Management Inc. now owns 75,571 shares of the company’s stock valued at $1,428,000 after purchasing an additional 32,123 shares during the period. Janus Henderson Group PLC purchased a new position in Solaris Oilfield Infrastructure during the 3rd quarter valued at about $28,517,000. Finally, BlackRock Inc. increased its position in Solaris Oilfield Infrastructure by 1.4% during the 3rd quarter. BlackRock Inc. now owns 1,700,801 shares of the company’s stock valued at $32,128,000 after purchasing an additional 24,008 shares during the period. 85.44% of the stock is currently owned by institutional investors.
About Solaris Oilfield Infrastructure
Solaris Oilfield Infrastructure, Inc manufactures and sells patented mobile proppant management systems to unload, store, and deliver proppant at oil and natural gas well sites in the United States. The company's systems are designed for transferring large quantities of proppant to the well sites.
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