In a recent transaction, Delaware Energy LLC, a major stakeholder in Aris Water Solutions, Inc. (NYSE:ARIS), sold 3,223,670 shares of the company's Class A common stock. The shares were sold at a price of $18.42 each, totaling approximately $59.38 million. The stock has since appreciated significantly, now trading at $25.26, representing a remarkable 214% gain year-to-date. With a market capitalization of $1.5 billion, Aris maintains a GREAT Financial Health score according to InvestingPro analysis. Following this transaction, Delaware Energy LLC continues to hold 3,223,670 shares in Aris Water Solutions. The stock sale was executed as part of a broader asset exchange agreement between the two companies. InvestingPro analysis suggests the stock is currently slightly undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks.
In other recent news, Aris Water Solutions has announced a robust growth in its third-quarter earnings for 2024. The company reported a 2% sequential and 6% year-over-year growth in produced water volumes. Adjusted EBITDA for the quarter reached $54.3 million, marking a 21% increase from the previous year. Furthermore, Aris raised its 2024 adjusted EBITDA guidance to between $208 and $212 million.
The company has also declared a fourth-quarter dividend of $0.105 per share. These recent developments highlight the company's focus on operational efficiency and growth initiatives. Aris anticipates mid-single-digit growth in produced water volumes for 2025, driven by customer activity. The company is actively exploring cost reduction opportunities and potential mineral extraction projects. However, share repurchase programs are currently on hold due to limited float, and no significant increases in dividend growth are expected in the near term.
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