Geode Capital Management LLC Boosts Stock Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Geode Capital Management LLC lifted its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 3.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,448,340 shares of the company’s stock after purchasing an additional 54,321 shares during the period. Geode Capital Management LLC’s holdings in Atlas Energy Solutions were worth $31,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Amalgamated Bank boosted its position 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 purchasing an additional 1,801 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Atlas Energy Solutions during the third quarter valued at about $48,000. FMR LLC boosted its holdings in shares of Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after buying an additional 1,355 shares in the last quarter. CWM LLC grew its position in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after buying an additional 886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Atlas Energy Solutions during the 2nd quarter worth approximately $74,000. 34.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AESI. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 target price on the stock. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Finally, Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.17, for a total value of $115,850.00. Following the completion of the transaction, the insider now owns 409,510 shares in the company, valued at approximately $9,488,346.70. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total transaction of $184,190.79. Following the sale, the insider now directly owns 934,746 shares in the company, valued at approximately $20,087,691.54. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 133,213 shares worth $2,959,311. Company insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Stock Performance

AESI opened at $22.22 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93. The firm has a 50 day moving average of $21.58 and a two-hundred day moving average of $20.97. The firm has a market capitalization of $2.45 billion, a PE ratio of 28.13, a P/E/G ratio of 11.53 and a beta of 0.96.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $307.93 million. During the same period last year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, analysts anticipate that Atlas Energy Solutions Inc. will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is 121.52%.

Atlas Energy Solutions 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.