Atlas Energy Solutions’ (AESI) Neutral Rating Reaffirmed at Bank of America

Bank of America reiterated their neutral rating on shares of Atlas Energy Solutions (NYSE:AESI) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have a $22.50 price objective on the stock.

Several other research analysts have also weighed in on AESI. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Finally, Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI opened at $23.95 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $22.29 and a 200 day moving average price of $21.22. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The company has a market cap of $2.64 billion, a P/E ratio of 30.32, a PEG ratio of 11.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data 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). The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company’s revenue was up 93.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. Research analysts predict that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is presently 121.52%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $21.39, for a total transaction of $427,800.00. Following the transaction, the insider now owns 512,010 shares in the company, valued at approximately $10,951,893.90. The trade was a 3.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gregory M. Shepard purchased 1,797 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the transaction, the insider now owns 7,507,194 shares in the company, valued at $147,516,362.10. This trade represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 60,869 shares of company stock valued at $1,187,983 and sold 129,642 shares valued at $2,904,721. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its stake in Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares during the period. Quest Partners LLC purchased a new stake in shares of Atlas Energy Solutions during the third quarter worth about $48,000. FMR LLC lifted its stake in shares of Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after acquiring an additional 1,355 shares in the last quarter. CWM LLC lifted its stake in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after acquiring an additional 886 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Atlas Energy Solutions by 54.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock valued at $107,000 after purchasing an additional 1,860 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.