Piper Sandler Begins Coverage on Atlas Energy Solutions (NYSE:AESI)

Piper Sandler initiated coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued an overweight rating and a $22.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. Raymond James downgraded shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Benchmark decreased their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays decreased their price objective on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group started 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. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $17.72 on Wednesday. Atlas Energy Solutions has a 12-month low of $16.98 and a 12-month high of $26.86. The stock has a market cap of $2.16 billion, a P/E ratio of 22.43 and a beta of 1.18. The company has a 50-day moving average price of $21.49 and a 200 day moving average price of $21.50. 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 (NYSE:AESI) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. Sell-side analysts anticipate that Atlas Energy Solutions will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 5.64%. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 178.57%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard acquired 32,155 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $19.04 per share, with a total value of $612,231.20. Following the acquisition, the insider now owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the sale, the insider now directly owns 917,604 shares in the company, valued at $20,691,970.20. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,571 shares of company stock valued at $1,473,876 in the last three months. Corporate insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new stake in shares of Atlas Energy Solutions during the third quarter worth $844,000. Quest Partners LLC acquired a new stake in shares of Atlas Energy Solutions during the third quarter worth about $48,000. Intech Investment Management LLC acquired a new stake in shares of Atlas Energy Solutions during the third quarter worth about $323,000. Charles Schwab Investment Management Inc. raised its position in shares of Atlas Energy Solutions by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after purchasing an additional 25,999 shares during the period. Finally, FMR LLC grew its holdings in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after buying an additional 1,355 shares in the last quarter. 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.