Solaris Oilfield Infrastructure, Inc. (SOI) To Go Ex-Dividend on June 6th

Solaris Oilfield Infrastructure, Inc. (NYSE:SOIGet Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Shareholders of record on Tuesday, June 7th will be paid a dividend of 0.105 per share on Friday, June 17th. This represents a $0.42 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, June 6th.

Solaris Oilfield Infrastructure has increased its dividend payment by an average of 61.3% per year over the last three years. Solaris Oilfield Infrastructure has a payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Solaris Oilfield Infrastructure to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 40.4%.

Shares of NYSE SOI opened at $12.12 on Friday. The stock has a market capitalization of $564.31 million, a PE ratio of 110.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.38 and a quick ratio of 2.32. The business has a fifty day moving average price of $11.27 and a two-hundred day moving average price of $8.89. Solaris Oilfield Infrastructure has a fifty-two week low of $6.11 and a fifty-two week high of $12.63.

Solaris Oilfield Infrastructure (NYSE:SOIGet Rating) last announced its quarterly earnings data on Monday, February 21st. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $45.96 million during the quarter, compared to analysts’ expectations of $41.20 million. Solaris Oilfield Infrastructure had a return on equity of 1.29% and a net margin of 2.03%. During the same period in the previous year, the firm earned ($0.05) EPS. On average, equities analysts expect that Solaris Oilfield Infrastructure will post 0.53 EPS for the current year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Solaris Oilfield Infrastructure from a “hold” rating to a “strong-buy” rating and set a $9.75 price target on the stock in a research note on Saturday, February 26th. Piper Sandler lifted their price target on Solaris Oilfield Infrastructure from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, March 7th. Finally, Cowen decreased their price target on Solaris Oilfield Infrastructure from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 23rd.

In related news, insider Christopher M. Powell sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $12.07, for a total transaction of $120,700.00. Following the sale, the insider now owns 61,831 shares in the company, valued at approximately $746,300.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Burke sold 6,243 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $12.18, for a total value of $76,039.74. Following the sale, the director now owns 22,087 shares in the company, valued at approximately $269,019.66. The disclosure for this sale can be found here. Company insiders own 30.59% of the company’s stock.

A number of hedge funds have recently modified their holdings of SOI. Morgan Stanley grew its position in Solaris Oilfield Infrastructure by 255.7% during the 2nd quarter. Morgan Stanley now owns 189,157 shares of the company’s stock worth $1,842,000 after acquiring an additional 135,976 shares during the last quarter. Invesco Ltd. grew its position in shares of Solaris Oilfield Infrastructure by 8.4% in the 3rd quarter. Invesco Ltd. now owns 38,122 shares of the company’s stock valued at $318,000 after buying an additional 2,952 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Solaris Oilfield Infrastructure by 57.2% in the 3rd quarter. Two Sigma Investments LP now owns 22,800 shares of the company’s stock valued at $190,000 after buying an additional 8,300 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Solaris Oilfield Infrastructure by 270.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,039 shares of the company’s stock valued at $59,000 after buying an additional 5,138 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Solaris Oilfield Infrastructure by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 370,204 shares of the company’s stock valued at $3,088,000 after buying an additional 9,898 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Solaris Oilfield Infrastructure (Get Rating)

Solaris Oilfield Infrastructure, Inc designs, manufactures, and sells mobile equipment to unload, store, and deliver proppant, water, and chemicals at oil and natural gas well sites in the United States. It is involved in the transloading and storage of proppant or railcars at its transloading facility.

See Also

Dividend History for Solaris Oilfield Infrastructure (NYSE:SOI)

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