Atlas Energy Solutions (NYSE:AESI) Downgraded to Hold Rating by Raymond James

Raymond James cut shares of Atlas Energy Solutions (NYSE:AESI) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

AESI has been the subject of a number of other research reports. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 target price for the company. Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Citigroup lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Atlas Energy Solutions Trading Down 2.1 %

NYSE AESI opened at $21.94 on Monday. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 11.53 and a beta of 1.03. The firm’s 50 day moving average price is $22.05 and its two-hundred day moving average price is $21.13.

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 analysts’ consensus estimates of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company’s quarterly revenue was up 93.1% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Equities analysts anticipate that Atlas Energy Solutions will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.38%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total transaction of $181,019.52. Following the completion of the sale, the insider now directly owns 926,175 shares in the company, valued at $19,560,816. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the insider now directly owns 404,510 shares of the company’s stock, valued at $9,303,730. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 129,642 shares worth $2,890,121. Corporate insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Atlas Energy Solutions by 324.3% during the third quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company’s stock valued at $4,240,000 after buying an additional 148,655 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Atlas Energy Solutions during the third quarter valued at about $844,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Atlas Energy Solutions during the third quarter valued at about $298,000. Ashford Capital Management Inc. raised its position in shares of Atlas Energy Solutions by 27.9% during the third quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock valued at $12,775,000 after buying an additional 127,910 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Atlas Energy Solutions by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock worth $31,579,000 after purchasing an additional 54,321 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.