Atlas Energy Solutions (NYSE:AESI) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research note issued to investors on Friday. The brokerage issued a neutral rating and a $23.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the stock. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Atlas Energy Solutions Stock Up 2.4 %

AESI opened at $23.16 on Friday. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. 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 firm has a 50-day simple moving average of $21.42 and a two-hundred day simple moving average of $21.00. The company has a market capitalization of $2.55 billion, a PE ratio of 29.32, a price-to-earnings-growth 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 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 firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the prior year, the business earned $0.51 EPS. The business’s quarterly revenue was up 93.1% compared to the same quarter last year. Analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.24 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.15%. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

Insider Buying and Selling

In other 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 transaction of $205,000.00. Following the transaction, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total transaction of $184,190.79. Following the sale, the insider now directly owns 934,746 shares of the company’s stock, valued at $20,087,691.54. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 119,642 shares valued at $2,650,185. 24.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Atlas Energy Solutions by 575.2% in the 1st quarter. California State Teachers Retirement System now owns 19,784 shares of the company’s stock worth $448,000 after purchasing an additional 16,854 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Atlas Energy Solutions by 60.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,786 shares of the company’s stock valued at $434,000 after acquiring an additional 8,195 shares in the last quarter. First Horizon Advisors Inc. boosted its position 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 acquiring an additional 1,308 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Atlas Energy Solutions by 58.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 530,197 shares of the company’s stock valued at $10,567,000 after acquiring an additional 195,772 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Atlas Energy Solutions in the 2nd quarter worth $74,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.