Vanguard Group Inc. increased its stake in Solaris Oilfield Infrastructure Inc (NYSE:SOI) by 4.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,421,131 shares of the company’s stock after purchasing an additional 61,295 shares during the quarter. Vanguard Group Inc.’s holdings in Solaris Oilfield Infrastructure were worth $21,288,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NumerixS Investment Technologies Inc acquired a new position in Solaris Oilfield Infrastructure in the 2nd quarter worth $57,000. BlackRock Inc. lifted its position in Solaris Oilfield Infrastructure by 14.0% during the 2nd quarter. BlackRock Inc. now owns 2,095,430 shares of the company’s stock worth $31,391,000 after buying an additional 257,291 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in Solaris Oilfield Infrastructure by 15.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 38,727 shares of the company’s stock worth $580,000 after buying an additional 5,097 shares in the last quarter. Northern Trust Corp lifted its position in Solaris Oilfield Infrastructure by 22.9% during the 2nd quarter. Northern Trust Corp now owns 558,557 shares of the company’s stock worth $8,368,000 after buying an additional 104,144 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new stake in Solaris Oilfield Infrastructure during the 2nd quarter worth about $2,158,000. 67.00% of the stock is owned by hedge funds and other institutional investors.
SOI has been the topic of several analyst reports. 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. Capital One Financial initiated coverage on shares of Solaris Oilfield Infrastructure in a research report on Monday, September 16th. They set an “overweight” rating and a $18.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Solaris Oilfield Infrastructure from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Imperial Capital reissued an “outperform” rating and set a $22.00 price target (up from $20.00) on shares of Solaris Oilfield Infrastructure in a research report on Thursday, August 1st. Finally, Cowen reissued an “outperform” rating and set a $18.00 price target (down from $21.00) on shares of Solaris Oilfield Infrastructure in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.15.
Solaris Oilfield Infrastructure (NYSE:SOI) last issued its earnings results on Tuesday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). The firm had revenue of $64.10 million during the quarter, compared to the consensus estimate of $58.25 million. Solaris Oilfield Infrastructure had a net margin of 22.08% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, sell-side analysts forecast that Solaris Oilfield Infrastructure Inc will post 1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 19th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.63%. Solaris Oilfield Infrastructure’s payout ratio is 23.67%.
In other news, Director James R. Burke sold 5,641 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $13.45, for a total value of $75,871.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher M. Powell sold 29,418 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $13.36, for a total transaction of $393,024.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,226 shares of company stock worth $1,087,486. 14.18% of the stock is owned by insiders.
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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