Price Wealth Management Inc. purchased a new position in shares of Solaris Oilfield Infrastructure Inc (NYSE:SOI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,738 shares of the company’s stock, valued at approximately $86,000.
Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Solaris Oilfield Infrastructure during the 2nd quarter worth $67,000. Dimensional Fund Advisors LP lifted its stake in shares of Solaris Oilfield Infrastructure by 22.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 763,258 shares of the company’s stock worth $9,228,000 after purchasing an additional 137,659 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Solaris Oilfield Infrastructure by 9.8% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,318,605 shares of the company’s stock worth $19,753,000 after purchasing an additional 117,885 shares during the period. Alambic Investment Management L.P. purchased a new position in shares of Solaris Oilfield Infrastructure during the 1st quarter worth $317,000. Finally, Brasada Capital Management LP purchased a new position in shares of Solaris Oilfield Infrastructure during the 2nd quarter worth $643,000. 67.25% of the stock is currently owned by institutional investors.
In related news, Director James R. Burke sold 5,641 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $13.45, for a total value of $75,871.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher M. Powell sold 29,418 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $13.36, for a total value of $393,024.48. The disclosure for this sale can be found here. 14.18% of the stock is currently owned by corporate insiders.
SOI has been the topic of several research reports. ValuEngine lowered Solaris Oilfield Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Imperial Capital reaffirmed an “outperform” rating and issued a $22.00 target price (up from $20.00) on shares of Solaris Oilfield Infrastructure in a research report on Thursday, August 1st. Citigroup initiated coverage on Solaris Oilfield Infrastructure in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $15.00 target price on the stock. TheStreet lowered Solaris Oilfield Infrastructure from a “b-” rating to a “c” rating in a research report on Friday, May 31st. Finally, Zacks Investment Research lowered Solaris Oilfield Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Solaris Oilfield Infrastructure has an average rating of “Hold” and an average price target of $19.72.
Shares of SOI traded up $0.26 during trading hours on Thursday, hitting $13.90. The stock had a trading volume of 5,105 shares, compared to its average volume of 449,658. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.38 and a current ratio of 2.63. The firm has a market cap of $659.46 million, a P/E ratio of 8.20, a P/E/G ratio of 0.98 and a beta of 1.77. The company’s fifty day simple moving average is $13.60 and its 200 day simple moving average is $15.56. Solaris Oilfield Infrastructure Inc has a 12-month low of $10.50 and a 12-month high of $19.31.
Solaris Oilfield Infrastructure (NYSE:SOI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). Solaris Oilfield Infrastructure had a net margin of 22.08% and a return on equity of 25.82%. The company had revenue of $64.10 million during the quarter, compared to analyst estimates of $58.25 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts predict that Solaris Oilfield Infrastructure Inc will post 1.71 earnings per share for the current fiscal year.
Solaris Oilfield Infrastructure Company Profile
Solaris Oilfield Infrastructure, Inc manufactures and rents mobile proppant and chemical management systems to unload, store, and deliver proppant and chemicals at oil and natural gas well sites in the United States. Its systems to transfer large quantities of proppant and chemicals to the well sites.
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