Atlas Energy Solutions (NYSE:AESI) Shares Gap Up Following Dividend Announcement

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $20.02, but opened at $20.88. Atlas Energy Solutions shares last traded at $21.17, with a volume of 267,565 shares trading hands.

The newly announced dividend which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.84%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is 116.46%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AESI shares. The Goldman Sachs Group cut their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Piper Sandler lowered their price target on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday. Finally, Barclays reduced their price objective on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Buy” and an average price target of $25.75.

Atlas Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The firm’s 50 day moving average price is $21.00 and its 200-day moving average price is $21.24. The firm has a market capitalization of $2.18 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last announced 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 return on equity of 16.75% and a net margin of 13.71%. The company’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, research analysts expect that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 1,797 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the acquisition, the insider now owns 7,507,194 shares in the company, valued at $147,516,362.10. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 33,159 shares of company stock worth $650,776 and have sold 35,713 shares worth $729,117. Insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Diversified Trust Co purchased a new position in shares of Atlas Energy Solutions during the first quarter worth $209,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Atlas Energy Solutions during the 1st quarter valued at about $307,000. BNP Paribas Financial Markets purchased a new position in Atlas Energy Solutions during the 1st quarter valued at about $202,000. Capstone Investment Advisors LLC boosted its stake in shares of Atlas Energy Solutions by 9.2% in the first quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock valued at $12,347,000 after purchasing an additional 45,859 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Atlas Energy Solutions in the first quarter valued at approximately $396,000. Hedge funds and other 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.