Atlas Energy Solutions (NYSE:AESI) Downgraded to Neutral Rating by Pickering Energy Partners

Pickering Energy Partners cut shares of Atlas Energy Solutions (NYSE:AESI) from an outperform rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports.

A number of other research analysts have also recently weighed in on the company. Barclays dropped their price target on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Piper Sandler dropped 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. Bank of America dropped their price objective on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Royal Bank of Canada dropped their price objective on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $25.75.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $19.16 on Wednesday. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.23. The business has a fifty day moving average of $20.95 and a two-hundred day moving average of $21.19. The company has a market cap of $2.11 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 9.39 and a beta of 0.70.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 during 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 company’s quarterly revenue was up 93.1% compared to the same quarter last year. As a group, analysts predict that Atlas Energy Solutions will post 0.94 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a $0.24 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Thursday, November 7th. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at $18,338,082.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Gregory M. Shepard purchased 1,797 shares of Atlas Energy Solutions stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average cost of $19.65 per share, with a total value of $35,311.05. Following the transaction, the insider now owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 33,159 shares of company stock valued at $650,776 and have sold 45,713 shares valued at $939,317. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after acquiring an additional 33,286 shares in the last quarter. Sei Investments Co. lifted its position in Atlas Energy Solutions by 119.0% during the 1st quarter. Sei Investments Co. now owns 88,106 shares of the company’s stock worth $1,993,000 after acquiring an additional 47,882 shares in the last quarter. Quantbot Technologies LP acquired a new position in Atlas Energy Solutions during the 1st quarter worth approximately $592,000. Lazard Asset Management LLC acquired a new position in Atlas Energy Solutions during the 1st quarter worth approximately $8,728,000. Finally, Capstone Investment Advisors LLC increased its holdings in Atlas Energy Solutions by 9.2% during the 1st quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock worth $12,347,000 after purchasing an additional 45,859 shares during the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

About Atlas Energy Solutions

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.