Atlas Energy Solutions (NYSE:AESI) PT Lowered to $25.00 at Royal Bank of Canada

Atlas Energy Solutions (NYSE:AESI) had its target price decreased by Royal Bank of Canada from $26.00 to $25.00 in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on AESI. Piper Sandler lowered their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an overweight rating for the company in a report on Monday, July 15th. Tudor, Pickering, Holt & Co. started coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They set a buy rating for the company. The Goldman Sachs Group lowered their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a buy rating for the company in a report on Thursday, August 29th. Benchmark reiterated a buy rating and set a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Bank of America lowered their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a buy rating for the company in a report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Atlas Energy Solutions presently has an average rating of Buy and an average target price of $26.13.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $20.45 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $20.89 and a two-hundred day moving average price of $21.50. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a market capitalization of $2.25 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The business had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $270.55 million. During the same quarter last year, the business posted $0.69 earnings per share. The business’s revenue was up 77.7% compared to the same quarter last year. As a group, research analysts expect that Atlas Energy Solutions will post 1.48 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.50%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s payout ratio is presently 73.02%.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the business’s 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 completion of the sale, the insider now directly owns 934,746 shares in the company, valued at $20,087,691.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the business’s 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 completion of the sale, the insider now directly owns 934,746 shares in the company, valued at $20,087,691.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 3,248 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the purchase, the insider now owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 25,713 shares of company stock worth $524,117. 24.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AESI. First Horizon Advisors Inc. lifted its position in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after purchasing an additional 1,308 shares in the last quarter. Amalgamated Bank lifted its position in shares of Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares in the last quarter. CWM LLC lifted its position in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Atlas Energy Solutions during the second quarter worth $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Atlas Energy Solutions during the first quarter worth $78,000. 34.59% of the stock is owned by institutional investors and hedge funds.

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.