Atlas Energy Solutions Inc. (NYSE:AESI) Receives $23.83 Average PT from Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.83.

Several analysts recently issued reports on AESI shares. Stephens raised their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Piper Sandler assumed coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 price objective on the stock. Barclays decreased their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Benchmark cut their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction on Monday, January 27th. The stock was sold at an average price of $24.46, for a total transaction of $305,750.00. Following the completion of the transaction, the insider now owns 362,010 shares in the company, valued at approximately $8,854,764.60. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard bought 32,155 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. The trade was a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 45,000 shares of company stock valued at $1,049,750 in the last three months. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently modified their holdings of the stock. First Hawaiian Bank increased its stake in Atlas Energy Solutions by 5.2% during the 1st quarter. First Hawaiian Bank now owns 55,252 shares of the company’s stock valued at $986,000 after purchasing an additional 2,748 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Atlas Energy Solutions by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock valued at $18,973,000 after acquiring an additional 61,185 shares in the last quarter. Ashford Capital Management Inc. raised its holdings in Atlas Energy Solutions by 36.1% in the 4th quarter. Ashford Capital Management Inc. now owns 797,675 shares of the company’s stock worth $17,692,000 after acquiring an additional 211,675 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Atlas Energy Solutions by 135.0% in the 4th quarter. Squarepoint Ops LLC now owns 68,880 shares of the company’s stock worth $1,528,000 after acquiring an additional 39,570 shares during the last quarter. Finally, Snowden Capital Advisors LLC lifted its position in Atlas Energy Solutions by 44.9% in the 4th quarter. Snowden Capital Advisors LLC now owns 24,470 shares of the company’s stock valued at $543,000 after acquiring an additional 7,587 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Down 12.8 %

Shares of Atlas Energy Solutions stock opened at $13.79 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a 52-week low of $13.14 and a 52-week high of $26.86. The company’s 50 day moving average price is $19.76 and its 200-day moving average price is $21.18. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.46 and a beta of 1.20.

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 the consensus estimate 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 firm had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Equities research analysts forecast that Atlas Energy Solutions will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s payout ratio is 178.57%.

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.