Millennium Management LLC increased its holdings in shares of Solaris Oilfield Infrastructure Inc (NYSE:SOI) by 10,121.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 932,797 shares of the company’s stock after buying an additional 923,671 shares during the period. Millennium Management LLC owned 1.96% of Solaris Oilfield Infrastructure worth $12,518,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC bought a new position in Solaris Oilfield Infrastructure during the 1st quarter worth approximately $36,498,000. BlackRock Inc. increased its stake in Solaris Oilfield Infrastructure by 14.0% in the second quarter. BlackRock Inc. now owns 2,095,430 shares of the company’s stock valued at $31,391,000 after purchasing an additional 257,291 shares in the last quarter. Vanguard Group Inc. increased its stake in Solaris Oilfield Infrastructure by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,421,131 shares of the company’s stock valued at $21,288,000 after purchasing an additional 61,295 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in Solaris Oilfield Infrastructure by 9.8% in the second 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. Finally, Russell Investments Group Ltd. raised its holdings in Solaris Oilfield Infrastructure by 53.2% in the third quarter. Russell Investments Group Ltd. now owns 1,240,183 shares of the company’s stock worth $16,644,000 after purchasing an additional 430,746 shares during the period. 67.26% of the stock is owned by institutional investors and hedge funds.
Shares of SOI stock opened at $11.74 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 3.09. Solaris Oilfield Infrastructure Inc has a 52 week low of $10.24 and a 52 week high of $19.31. The company’s 50 day moving average price is $11.16 and its two-hundred day moving average price is $13.27. The company has a market capitalization of $510.52 million, a P/E ratio of 6.95 and a beta of 1.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, December 16th will be given a $0.105 dividend. This is a boost from Solaris Oilfield Infrastructure’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. Solaris Oilfield Infrastructure’s payout ratio is currently 23.67%.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Solaris Oilfield Infrastructure from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Cowen set a $16.00 price objective on shares of Solaris Oilfield Infrastructure and gave the company a “buy” rating in a research report on Friday, November 1st. Capital One Financial began coverage on Solaris Oilfield Infrastructure in a research note on Monday, September 16th. They set an “overweight” rating and a $18.00 price objective on the stock. Stifel Nicolaus set a $15.00 target price on Solaris Oilfield Infrastructure and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Co decreased their target price on Solaris Oilfield Infrastructure from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Solaris Oilfield Infrastructure presently has an average rating of “Buy” and an average price target of $17.65.
In other Solaris Oilfield Infrastructure news, Director Edgar R. Jr. Giesinger bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $11.68 per share, with a total value of $116,800.00. Also, insider Cynthia M. Durrett sold 42,167 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $14.67, for a total transaction of $618,589.89. 14.18% of the stock is currently owned by company insiders.
About Solaris Oilfield Infrastructure
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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