Solaris Oilfield Infrastructure, Inc. (SOI) Issues Earnings Results
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) issued its quarterly earnings data on Thursday. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02), Briefing.com reports. The business had revenue of $18.50 million for the quarter, compared to analysts’ expectations of $17.14 million. The business’s revenue for the quarter was down 99.6% on a year-over-year basis.
Shares of Solaris Oilfield Infrastructure (NYSE SOI) traded down $0.11 during midday trading on Friday, hitting $15.96. 480,868 shares of the stock traded hands, compared to its average volume of 173,712. The company has a debt-to-equity ratio of 0.06, a current ratio of 13.89 and a quick ratio of 13.20.
An institutional investor recently bought a new position in Solaris Oilfield Infrastructure stock. California State Teachers Retirement System purchased a new stake in Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) during the second quarter, according to its most recent filing with the SEC. The firm purchased 17,900 shares of the company’s stock, valued at approximately $206,000. California State Teachers Retirement System owned 0.17% of Solaris Oilfield Infrastructure at the end of the most recent reporting period. Hedge funds and other institutional investors own 58.17% of the company’s stock.
A number of brokerages have commented on SOI. Raymond James Financial, Inc. lowered shares of Solaris Oilfield Infrastructure from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 11th. Citigroup Inc lowered shares of Solaris Oilfield Infrastructure to a “market perform” rating in a report on Wednesday, October 11th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $20.00 price objective (up previously from $16.00) on shares of Solaris Oilfield Infrastructure in a report on Monday, October 9th. Zacks Investment Research raised shares of Solaris Oilfield Infrastructure from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, September 29th. Finally, Johnson Rice reaffirmed a “buy” rating and issued a $19.00 target price on shares of Solaris Oilfield Infrastructure in a research note on Monday, September 11th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.36.
Solaris Oilfield Infrastructure Company Profile
Solaris Oilfield Infrastructure, Inc manufactures and provides its mobile proppant management systems that unload, store and deliver proppant at oil and natural gas well sites. The Company offers its services to oil and natural gas exploration and production (E&P) companies, as well as oilfield service companies.
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