Quest Partners LLC Invests $48,000 in Atlas Energy Solutions Inc. (NYSE:AESI)

Quest Partners LLC purchased a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,219 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds also recently made changes to their positions in AESI. Vanguard Group Inc. lifted its holdings in shares of Atlas Energy Solutions by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock valued at $104,409,000 after purchasing an additional 33,286 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Atlas Energy Solutions by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock valued at $53,740,000 after buying an additional 30,082 shares during the last quarter. Meridian Wealth Advisors LLC boosted its holdings in Atlas Energy Solutions by 25.8% in the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock worth $53,362,000 after acquiring an additional 548,620 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock worth $41,072,000 after acquiring an additional 311,228 shares during the last quarter. Finally, Cooke & Bieler LP raised its position in shares of Atlas Energy Solutions by 775.7% in the 2nd quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after purchasing an additional 1,504,988 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.02, for a total value of $720,600.00. Following the sale, the insider now owns 432,010 shares of the company’s stock, valued at approximately $10,376,880.20. This represents a 6.49 % 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 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 value of $181,019.52. Following the completion of the sale, the insider now owns 926,175 shares in the company, valued at approximately $19,560,816. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 115,713 shares worth $2,517,431. Corporate insiders own 24.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AESI shares. The Goldman Sachs Group downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $21.00 in a research note on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.44.

Atlas Energy Solutions Stock Up 0.6 %

NYSE AESI opened at $23.57 on Friday. Atlas Energy Solutions Inc. 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 company has a market capitalization of $2.60 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 11.84 and a beta of 0.69. The stock’s 50-day moving average price is $21.25 and its 200-day moving average price is $21.08.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, equities research analysts predict that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

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.