Envestnet Asset Management Inc. Has $4.98 Million Stock Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Envestnet Asset Management Inc. increased its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 127.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,826 shares of the company’s stock after buying an additional 140,110 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of Atlas Energy Solutions worth $4,979,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AESI. Charles Schwab Investment Management Inc. grew its position in Atlas Energy Solutions by 154.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 336,324 shares of the company’s stock worth $5,791,000 after buying an additional 204,176 shares in the last quarter. Edge Capital Group LLC boosted its holdings in Atlas Energy Solutions by 404.5% during the fourth quarter. Edge Capital Group LLC now owns 66,674 shares of the company’s stock valued at $1,148,000 after purchasing an additional 53,459 shares in the last quarter. Keeley Teton Advisors LLC boosted its holdings in Atlas Energy Solutions by 42.4% during the fourth quarter. Keeley Teton Advisors LLC now owns 194,966 shares of the company’s stock valued at $3,357,000 after purchasing an additional 58,004 shares in the last quarter. Palogic Value Management L.P. acquired a new stake in Atlas Energy Solutions during the fourth quarter valued at approximately $1,464,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Atlas Energy Solutions by 127.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,136,136 shares of the company’s stock valued at $19,564,000 after purchasing an additional 637,249 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AESI. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Piper Sandler decreased their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Royal Bank of Canada decreased their price objective on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Bank of America reduced their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $26.25.

Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard acquired 3,248 shares of Atlas Energy Solutions stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $21.68 per share, with a total value of $70,416.64. Following the acquisition, the insider now owns 7,503,197 shares in the company, valued at $162,669,310.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $19.89, for a total transaction of $170,477.19. Following the completion of the sale, the insider now owns 960,459 shares in the company, valued at approximately $19,103,529.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard bought 3,248 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $21.68 per share, with a total value of $70,416.64. Following the transaction, the insider now directly owns 7,503,197 shares in the company, valued at approximately $162,669,310.96. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 25,713 shares of company stock valued at $510,403. 24.34% of the stock is currently owned by corporate insiders.

Atlas Energy Solutions Stock Up 1.8 %

NYSE:AESI opened at $21.80 on Tuesday. The stock’s fifty day moving average price is $20.66 and its two-hundred day moving average price is $21.52. Atlas Energy Solutions Inc. has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 6.95 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The firm had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. During the same period in the prior year, the company posted $0.69 EPS. The firm’s quarterly revenue was up 77.7% compared to the same quarter last year. On average, analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.23 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, August 15th. This represents a $0.92 annualized dividend and a yield of 4.22%. Atlas Energy Solutions’s dividend payout ratio is currently 51.11%.

About Atlas Energy Solutions

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.