Solaris Oilfield Infrastructure (SOI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Solaris Oilfield Infrastructure (NYSE:SOI) from a buy rating to a hold rating in a report released on Tuesday.

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. “

Separately, Seaport Global Securities reiterated a buy rating on shares of Solaris Oilfield Infrastructure in a research report on Monday, August 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Solaris Oilfield Infrastructure currently has a consensus rating of Buy and a consensus target price of $21.83.

Shares of NYSE:SOI opened at $17.16 on Tuesday. The stock has a market capitalization of $826.47 million, a P/E ratio of 35.75 and a beta of 0.15. Solaris Oilfield Infrastructure has a fifty-two week low of $12.03 and a fifty-two week 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.

Solaris Oilfield Infrastructure (NYSE:SOI) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $44.85 million. Solaris Oilfield Infrastructure had a net margin of 15.78% and a return on equity of 18.91%. Solaris Oilfield Infrastructure’s quarterly revenue was up 252.2% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. research analysts expect that Solaris Oilfield Infrastructure will post 1.78 earnings per share for the current fiscal year.

In related news, CFO Kyle S. Ramachandran bought 5,000 shares of the stock in a transaction on Tuesday, May 22nd. The shares were purchased at an average price of $16.17 per share, with a total value of $80,850.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William A. Zartler bought 6,000 shares of the stock in a transaction on Tuesday, May 22nd. The shares were bought at an average cost of $16.17 per share, for a total transaction of $97,020.00. The disclosure for this purchase can be found here. Company insiders own 14.44% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Group One Trading L.P. acquired a new position in Solaris Oilfield Infrastructure during the 1st quarter valued at about $138,000. Metropolitan Life Insurance Co. NY acquired a new position in Solaris Oilfield Infrastructure during the 4th quarter valued at about $143,000. Voya Investment Management LLC acquired a new position in Solaris Oilfield Infrastructure during the 2nd quarter valued at about $153,000. Violich Capital Management Inc. acquired a new position in Solaris Oilfield Infrastructure during the 1st quarter valued at about $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 valued at $199,000 after buying an additional 12,410 shares during the period. 71.96% of the stock is currently owned by hedge funds and other 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.

See Also: Earnings Per Share (EPS)

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