Atlas Energy Solutions (NYSE:AESI) Cut to Hold at Raymond James

Raymond James cut shares of Atlas Energy Solutions (NYSE:AESI) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on AESI. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI opened at $21.94 on Monday. 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 firm’s 50-day moving average price is $22.05 and its two-hundred day moving average price is $21.13. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The stock has a market capitalization of $2.42 billion, a P/E ratio of 27.77, a P/E/G ratio of 11.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (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 business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue was up 93.1% on a year-over-year basis. As a group, sell-side analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 121.52%.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the transaction, the insider now owns 404,510 shares in the company, valued at approximately $9,303,730. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard purchased 1,797 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the transaction, the insider now owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. The trade was a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 129,642 shares worth $2,890,121. Company insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp grew its position in Atlas Energy Solutions by 28.6% in the third quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after buying an additional 28,158 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Atlas Energy Solutions by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after buying an additional 25,999 shares during the last quarter. Ashford Capital Management Inc. grew its position in Atlas Energy Solutions by 27.9% in the third quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock worth $12,775,000 after buying an additional 127,910 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Atlas Energy Solutions in the third quarter worth approximately $844,000. Finally, State Street Corp grew its position in Atlas Energy Solutions by 15.0% in the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after buying an additional 227,776 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.