Citigroup Downgrades Atlas Energy Solutions (NYSE:AESI) to Neutral

Citigroup lowered shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports. They currently have $22.00 target price on the stock, down from their prior target price of $23.00.

AESI has been the topic of a number of other research reports. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Stephens reissued an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. 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 company. According to MarketBeat, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $24.44.

Atlas Energy Solutions Trading Down 1.5 %

NYSE:AESI opened at $19.95 on Thursday. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The stock has a fifty day moving average price of $20.94 and a two-hundred day moving average price of $21.06. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 11.03 and a beta of 0.69.

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). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 93.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 0.8 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.81%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 121.52%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $21.12, for a total transaction of $181,019.52. Following the transaction, the insider now owns 926,175 shares of the company’s stock, valued at $19,560,816. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was 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 in the company, valued at $11,111,205. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 65,713 shares worth $1,374,831. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Atlas Energy Solutions by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock worth $979,000 after buying an additional 711 shares during the last quarter. Beck Capital Management LLC grew its position in shares of Atlas Energy Solutions by 0.6% during the second quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after acquiring an additional 749 shares during the last quarter. CWM LLC increased its holdings in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after acquiring an additional 886 shares during the period. Cetera Investment Advisers lifted its position in Atlas Energy Solutions by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after purchasing an additional 897 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares during the period. 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.