Atlas Energy Solutions Inc. (NYSE:AESI) Receives $24.44 Consensus Price Target from Analysts

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.44.

Several equities analysts have issued reports on the stock. The Goldman Sachs Group downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $21.00 in a research note on Thursday, November 7th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, Stephens reiterated an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th.

Atlas Energy Solutions Trading Up 0.6 %

NYSE AESI opened at $23.57 on Friday. 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 moving average of $21.25 and a two-hundred day moving average of $21.06. The stock has a market capitalization of $2.60 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 11.92 and a beta of 0.69. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS 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 business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the previous year, the company posted $0.51 EPS. The company’s revenue was up 93.1% compared to the same quarter last year. As a group, research analysts expect that Atlas Energy Solutions will post 0.88 EPS 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. Shareholders of record on Thursday, November 7th were issued a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 4.07%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

Insiders Place Their Bets

In related news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the transaction, the insider now owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 115,713 shares worth $2,517,431. Insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its position in shares of Atlas Energy Solutions by 313.7% in the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the last quarter. Quest Partners LLC acquired a new position in Atlas Energy Solutions in the 3rd quarter valued at $48,000. Amalgamated Bank lifted its stake in shares of Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares during the period. FMR LLC boosted its holdings in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares during the last quarter. Finally, CWM LLC grew its position in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the period. 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.