Atlas Energy Solutions (NYSE:AESI) Downgraded by Citigroup to Neutral

Citigroup cut shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a report released on Thursday, MarketBeat.com reports. Citigroup currently has $22.00 target price on the stock, down from their previous target price of $23.00.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. The Goldman Sachs Group cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Atlas Energy Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Down 1.5 %

Shares of NYSE AESI opened at $19.95 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $20.94 and its two-hundred day moving average is $21.06. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 11.03 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the prior year, the firm posted $0.51 EPS. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year. Research analysts predict that Atlas Energy Solutions will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.81%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Gregory M. Shepard acquired 13,363 shares of Atlas Energy Solutions stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $19.19 per share, with a total value of $256,435.97. Following the purchase, the insider now owns 7,619,055 shares of the company’s stock, valued at $146,209,665.45. The trade was a 0.18 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 65,713 shares worth $1,374,831. 24.34% of the stock is currently owned by insiders.

Institutional Trading of Atlas Energy Solutions

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Atlas Energy Solutions in the first quarter valued at approximately $202,000. Swiss National Bank acquired a new position in Atlas Energy Solutions in the 1st quarter valued at $893,000. Sei Investments Co. raised its position in Atlas Energy Solutions by 119.0% during the 1st quarter. Sei Investments Co. now owns 88,106 shares of the company’s stock worth $1,993,000 after buying an additional 47,882 shares during the last quarter. Crown Advisors Management Inc. purchased a new position in Atlas Energy Solutions during the 1st quarter worth $2,262,000. Finally, Vanguard Group Inc. lifted its stake in shares of Atlas Energy Solutions by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after acquiring an additional 33,286 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.