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BKR - Solaris Oilfield Infrastructure In Depressed Sector
Baker Hughes Company
Solaris Oilfield Infrastructure (SOI) has mixed appeal.
On one hand, it is stuck in the heavily-bleeding, declining sand/proppant sector — even though Solaris only handles sand at the well-site rather than developing sand mines.
Additionally, non-public Class B shareholders still own about a third of the company.
On the other hand, dividend-seeking investors may like Solaris’ 3.6% yield — unusual in oilfield services. Moreover, as a small, focused company with little debt, several innovations, and enough cash ($51 million, 10% of the asset base), Solaris could easily become an acquisition target.