Atlas Energy Solutions (NYSE:AESI) Downgraded by Barclays to Equal Weight

Barclays downgraded shares of Atlas Energy Solutions (NYSE:AESI) from an overweight rating to an equal weight rating in a research note published on Tuesday, Marketbeat.com reports. The brokerage currently has $19.00 price target on the stock, down from their previous price target of $23.00.

A number of other equities research analysts have also recently issued reports on AESI. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler dropped their price target on shares of 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. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $21.00 in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.44.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock opened at $20.25 on Tuesday. 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 $2.23 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 11.89 and a beta of 0.69. The company has a fifty day moving average of $20.94 and a 200-day moving average of $21.09. 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 (NYSE:AESI) last announced its quarterly earnings data 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 net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same period last year, the company posted $0.51 EPS. Atlas Energy Solutions’s revenue for the quarter was up 93.1% on a year-over-year basis. Equities research analysts expect that Atlas Energy Solutions will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.74%. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Gregory M. Shepard acquired 13,363 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $19.19 per share, for a total transaction of $256,435.97. Following the acquisition, the insider now owns 7,619,055 shares of the company’s stock, valued at $146,209,665.45. The trade was a 0.18 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 60,869 shares of company stock worth $1,187,983 and sold 65,713 shares worth $1,367,117. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in AESI. Whitebox Advisors LLC purchased a new position in shares of Atlas Energy Solutions in the first quarter worth approximately $49,712,000. Price T Rowe Associates Inc. MD lifted its holdings in Atlas Energy Solutions by 9,759.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock valued at $36,838,000 after purchasing an additional 1,611,968 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Atlas Energy Solutions by 775.7% during the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock valued at $33,861,000 after purchasing an additional 1,504,988 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Atlas Energy Solutions by 38.2% during the first quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock valued at $52,145,000 after purchasing an additional 636,785 shares in the last quarter. Finally, Meridian Wealth Advisors LLC lifted its holdings in Atlas Energy Solutions by 25.8% during the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after purchasing an additional 548,620 shares in the last quarter. 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.