Atlas Energy Solutions Inc. (NYSE:AESI) Receives $24.50 Average PT from Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $24.50.

AESI has been the topic of several recent analyst reports. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Bank of America reaffirmed a “neutral” rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company.

Insider Activity

In related news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $21.12, for a total transaction of $181,019.52. Following the completion of the transaction, the insider now directly owns 926,175 shares in the company, valued at approximately $19,560,816. The trade was a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gregory M. Shepard purchased 23,300 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $19.55 per share, with a total value of $455,515.00. Following the completion of the purchase, the insider now directly owns 7,540,306 shares in the company, valued at $147,412,982.30. This trade represents a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 51,010 shares of company stock valued at $992,722 and sold 137,142 shares valued at $3,084,721. Insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently modified their holdings of AESI. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions in the third quarter worth about $48,000. Amalgamated Bank boosted its position in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after buying an additional 1,801 shares during the period. FMR LLC boosted its position in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after buying an additional 1,355 shares during the period. CWM LLC lifted its position in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Atlas Energy Solutions by 54.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock worth $107,000 after purchasing an additional 1,860 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Price Performance

AESI stock opened at $24.20 on Friday. The firm has a 50 day moving average of $22.48 and a 200-day moving average of $21.32. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a 12 month low of $16.15 and a 12 month high of $25.38. The firm has a market capitalization of $2.67 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 5.55 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts predict that Atlas Energy Solutions will post 0.87 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.