Zacks Investment Research lowered shares of Solaris Oilfield Infrastructure (NYSE:SOI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Solaris Oilfield Infrastructure, Inc. manufactures and provides patented mobile proppant management systems which unload, store and deliver proppant at oil and natural gas well sites and its systems are deployed in many of the most active oil and natural gas basins in the United States, including the Permian Basin, the Eagle Ford Shale and the SCOOP/STACK formation. Solaris Oilfield Infrastructure, Inc. is based in Houston, United States. “
Several other analysts have also recently weighed in on SOI. Piper Jaffray Companies set a $22.00 price objective on shares of Solaris Oilfield Infrastructure and gave the company a buy rating in a research report on Wednesday, October 3rd. ValuEngine upgraded shares of Solaris Oilfield Infrastructure from a sell rating to a hold rating in a research report on Monday, September 24th. Seaport Global Securities restated a buy rating on shares of Solaris Oilfield Infrastructure in a research report on Monday, August 6th. Finally, Stifel Nicolaus started coverage on shares of Solaris Oilfield Infrastructure in a research report on Monday, September 10th. They set a buy rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Solaris Oilfield Infrastructure has an average rating of Buy and an average price target of $22.17.
NYSE SOI opened at $17.42 on Wednesday. Solaris Oilfield Infrastructure has a 1 year low of $12.97 and a 1 year high of $23.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.94 and a current ratio of 2.26. The company has a market capitalization of $888.57 million, a price-to-earnings ratio of 36.18 and a beta of 0.22.
Solaris Oilfield Infrastructure (NYSE:SOI) last posted its earnings results on Thursday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Solaris Oilfield Infrastructure had a net margin of 15.78% and a return on equity of 18.91%. The business had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $44.85 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 252.2% compared to the same quarter last year. As a group, research analysts forecast that Solaris Oilfield Infrastructure will post 1.79 EPS for the current fiscal year.
In other news, Director James R. Burke sold 7,170 shares of the firm’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $16.67, for a total transaction of $119,523.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 14.44% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Group One Trading L.P. bought a new position in shares of Solaris Oilfield Infrastructure during the 1st quarter valued at $138,000. Advisors Asset Management Inc. grew its holdings in shares of Solaris Oilfield Infrastructure by 450.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,582 shares of the company’s stock valued at $151,000 after purchasing an additional 8,660 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Solaris Oilfield Infrastructure during the 2nd quarter valued at $153,000. California Public Employees Retirement System bought a new position in shares of Solaris Oilfield Infrastructure during the 2nd quarter valued at $176,000. Finally, US Bancorp DE grew its holdings in shares of Solaris Oilfield Infrastructure by 847.1% during the 2nd quarter. US Bancorp DE now owns 13,875 shares of the company’s stock valued at $199,000 after purchasing an additional 12,410 shares during the last quarter. 77.61% 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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