Solaris Oilfield Infrastructure (SOI) Trading Up 10.7% After Earnings Beat

Solaris Oilfield Infrastructure Inc (NYSE:SOI) shares were up 10.7% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $14.87 and last traded at $14.61. Approximately 1,067,409 shares traded hands during trading, an increase of 105% from the average daily volume of 521,948 shares. The stock had previously closed at $13.20.

The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $56.70 million for the quarter, compared to the consensus estimate of $56.23 million. Solaris Oilfield Infrastructure had a net margin of 15.78% and a return on equity of 18.91%. The business’s revenue was up 206.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS.

A number of equities research analysts have recently issued reports on SOI shares. Stifel Nicolaus started coverage on shares of Solaris Oilfield Infrastructure in a research note on Monday, September 10th. They issued a “buy” rating and a $20.00 price target on the stock. Piper Jaffray Companies set a $22.00 price target on shares of Solaris Oilfield Infrastructure and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Seaport Global Securities reissued a “buy” rating on shares of Solaris Oilfield Infrastructure in a research note on Monday, August 6th. Zacks Investment Research raised shares of Solaris Oilfield Infrastructure from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, August 15th. Finally, ValuEngine raised shares of Solaris Oilfield Infrastructure from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $22.17.

In related news, Director James R. Burke sold 7,170 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $16.67, for a total transaction of $119,523.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.44% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SOI. Advisors Asset Management Inc. increased its stake in Solaris Oilfield Infrastructure by 450.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,582 shares of the company’s stock worth $151,000 after buying an additional 8,660 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in Solaris Oilfield Infrastructure during the 3rd quarter worth approximately $152,000. Voya Investment Management LLC purchased a new stake in Solaris Oilfield Infrastructure during the 2nd quarter worth approximately $153,000. California Public Employees Retirement System purchased a new stake in Solaris Oilfield Infrastructure during the 2nd quarter worth approximately $176,000. Finally, US Bancorp DE increased its stake in Solaris Oilfield Infrastructure by 847.1% during the 2nd quarter. US Bancorp DE now owns 13,875 shares of the company’s stock worth $199,000 after buying an additional 12,410 shares during the period. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 2.26, a quick ratio of 1.94 and a debt-to-equity ratio of 0.20. The stock has a market cap of $624.68 million, a P/E ratio of 30.40 and a beta of 0.23.

Solaris Oilfield Infrastructure Company Profile (NYSE:SOI)

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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