Atlas Energy Solutions Inc. (NYSE:AESI) Receives $24.44 Consensus Target Price from Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $24.44.

A number of analysts recently weighed in on AESI shares. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. The Goldman Sachs Group downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $21.00 in a research report on Thursday, November 7th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th.

Atlas Energy Solutions Trading Up 0.6 %

Shares of AESI opened at $23.57 on Friday. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The firm has a market capitalization of $2.60 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 11.92 and a beta of 0.69. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $21.25 and its 200 day simple moving average is $21.06.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 93.1% compared to the same quarter last year. On average, equities research analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.07%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 30,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.02, for a total value of $720,600.00. Following the completion of the transaction, the insider now directly owns 432,010 shares in the company, valued at approximately $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the sale, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 60,869 shares of company stock worth $1,187,983 and sold 115,713 shares worth $2,517,431. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares during the period. Amalgamated Bank boosted its stake in Atlas Energy Solutions by 328.1% in the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 1,801 shares during the period. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions during the third quarter valued at approximately $48,000. FMR LLC raised its position in shares of Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares during the period. Finally, CWM LLC lifted its holdings 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 last quarter. 34.59% of the stock is currently owned by institutional investors.

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.