Atlas Energy Solutions (NYSE:AESI) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research report report published on Friday. The firm issued a neutral rating and a $23.00 price target on the stock.

Several other analysts have also commented on the stock. Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Finally, Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Atlas Energy Solutions Stock Up 2.4 %

Shares of Atlas Energy Solutions stock opened at $23.16 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The company’s 50 day moving average price is $21.42 and its 200-day moving average price is $21.00. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 11.53 and a beta of 0.96.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data 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). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was up 93.1% compared to the same quarter last year. Equities research analysts forecast that Atlas Energy Solutions will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.15%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 121.52%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the transaction, the insider now directly owns 542,010 shares in the company, valued at approximately $11,111,205. The trade was a 1.81 % decrease in their position. 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 Thursday, October 3rd. The stock was 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 of the company’s stock, valued at $20,087,691.54. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 119,642 shares valued at $2,650,185. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds have recently modified their holdings of AESI. First Horizon Advisors Inc. lifted its stake in shares of Atlas Energy Solutions by 313.7% during the 2nd 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 in the last quarter. Amalgamated Bank raised its holdings in Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 1,801 shares during the period. Quest Partners LLC purchased a new position in shares of Atlas Energy Solutions in the third quarter valued at about $48,000. FMR LLC boosted its stake in shares of Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after acquiring an additional 1,355 shares during the period. Finally, CWM LLC grew 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. 34.59% of the stock is currently owned by institutional investors.

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.