Atlas Energy Solutions Inc. (NYSE:AESI) Given Average Recommendation of “Moderate Buy” by Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.67.

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

Atlas Energy Solutions Stock Up 1.3 %

AESI opened at $21.71 on Tuesday. The company has a market capitalization of $2.39 billion, a P/E ratio of 27.48, a P/E/G ratio of 11.53 and a beta of 0.96. 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 firm’s fifty day moving average price is $21.50 and its two-hundred day moving average price is $20.96. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The business had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s revenue was up 93.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. On average, analysts anticipate that Atlas Energy Solutions will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.24 dividend. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

Insider Activity

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares in the company, valued at approximately $11,111,205. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total value of $184,190.79. Following the completion of the transaction, the insider now owns 934,746 shares in the company, valued at $20,087,691.54. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 60,869 shares of company stock valued at $1,187,983 and have sold 133,213 shares valued at $2,959,311. 24.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AESI. Cooke & Bieler LP increased its stake in Atlas Energy Solutions by 775.7% in 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. Wellington Management Group LLP bought a new position in shares of Atlas Energy Solutions during the third quarter worth $17,314,000. Meridian Wealth Advisors LLC grew its holdings in shares of Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares during the period. Marshall Wace LLP bought a new stake in shares of Atlas Energy Solutions in the 2nd quarter valued at $8,898,000. Finally, First Sabrepoint Capital Management LP acquired a new stake in Atlas Energy Solutions during the 3rd quarter worth $8,066,000. Institutional investors own 34.59% of the company’s stock.

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.