Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Gregory M. Shepard Purchases 1,797 Shares

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 1,797 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the purchase, the insider now owns 7,507,194 shares in the company, valued at $147,516,362.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Up 0.2 %

Shares of AESI traded up $0.03 during mid-day trading on Monday, hitting $19.97. 395,221 shares of the company traded hands, compared to its average volume of 873,103. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 1-year low of $15.55 and a 1-year high of $24.93. The company has a market capitalization of $2.00 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The business has a 50 day moving average of $20.99 and a 200 day moving average of $21.41.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). The firm had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company’s revenue for the quarter was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities research analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.23 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AESI shares. Barclays decreased their price objective on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada cut their price objective on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Piper Sandler decreased their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America lowered their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Benchmark restated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.75.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently bought and sold shares of the stock. 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 valued at $104,409,000 after purchasing an additional 33,286 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Atlas Energy Solutions by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock worth $53,740,000 after acquiring an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC grew its position in shares of Atlas Energy Solutions by 25.8% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after acquiring an additional 548,620 shares during the period. Janus Henderson Group PLC grew its holdings in Atlas Energy Solutions by 26.9% in the first quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock valued at $57,392,000 after purchasing an additional 537,927 shares during the period. Finally, Whitebox Advisors LLC purchased a new stake in shares of Atlas Energy Solutions in the first quarter valued at approximately $49,712,000. Hedge funds and other institutional investors 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.