Brokerages Set Atlas Energy Solutions Inc. (NYSE:AESI) PT at $24.67

Atlas Energy Solutions Inc. (NYSE:AESI) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $24.67.

Several research firms recently issued reports on AESI. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Barclays downgraded shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective for the company.

Insider Activity

In other news, 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 completion of the transaction, the insider now owns 917,604 shares in the company, valued at approximately $20,691,970.20. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 30,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.02, for a total value of $720,600.00. Following the sale, the insider now owns 432,010 shares in the company, valued at $10,376,880.20. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 133,213 shares worth $2,959,311. Corporate insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AESI. JPMorgan Chase & Co. lifted its holdings in shares of Atlas Energy Solutions by 324.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company’s stock worth $4,240,000 after acquiring an additional 148,655 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Atlas Energy Solutions in the 3rd quarter worth about $844,000. Wilmington Savings Fund Society FSB bought a new stake in Atlas Energy Solutions in the third quarter worth about $298,000. Ashford Capital Management Inc. boosted its position in shares of Atlas Energy Solutions by 27.9% during the third quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock valued at $12,775,000 after buying an additional 127,910 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Atlas Energy Solutions by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock valued at $31,579,000 after buying an additional 54,321 shares during the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Trading Up 1.5 %

Shares of Atlas Energy Solutions stock opened at $22.32 on Tuesday. Atlas Energy Solutions has a 1-year low of $15.55 and a 1-year high of $24.93. The company’s fifty day simple moving average is $21.71 and its 200-day simple moving average is $21.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The stock has a market capitalization of $2.46 billion, a PE ratio of 28.25, a P/E/G ratio of 11.53 and a beta of 0.96.

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

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.30%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is 121.52%.

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.