Atlas Energy Solutions (NYSE:AESI) Price Target Cut to $25.00

Atlas Energy Solutions (NYSE:AESI) had its price target lowered by The Goldman Sachs Group from $28.00 to $25.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also commented on the stock. Royal Bank of Canada lowered their price objective on shares of Atlas Energy Solutions from $27.00 to $26.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Piper Sandler lowered their price target on Atlas Energy Solutions from $29.00 to $27.00 and set an overweight rating on the stock in a research report on Monday, July 15th. Stephens reissued an overweight rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Tudor Pickering raised Atlas Energy Solutions to a strong-buy rating in a research note on Monday, June 24th. Finally, Bank of America lowered their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a buy rating on the stock in a report on Monday, July 15th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $26.25.

Atlas Energy Solutions Price Performance

Shares of AESI opened at $21.01 on Thursday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 4.88 and a beta of 0.56. The stock’s fifty day moving average is $20.30 and its 200-day moving average is $21.18. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.05 and a current ratio of 2.24.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. During the same period in the previous year, the business posted $0.69 EPS. The firm’s quarterly revenue was up 77.7% on a year-over-year basis. Equities analysts anticipate that Atlas Energy Solutions will post 1.86 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.38%. Atlas Energy Solutions’s payout ratio is 51.11%.

Insider Activity

In other news, major shareholder Gregory M. Shepard bought 60,393 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $19.05 per share, for a total transaction of $1,150,486.65. Following the completion of the acquisition, the insider now directly owns 7,383,018 shares in the company, valued at approximately $140,646,492.90. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Stacy Hock sold 8,574 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $19.76, for a total value of $169,422.24. Following the completion of the sale, the insider now owns 969,030 shares of the company’s stock, valued at $19,148,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gregory M. Shepard purchased 60,393 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $19.05 per share, for a total transaction of $1,150,486.65. Following the completion of the transaction, the insider now directly owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 134,526 shares of company stock valued at $2,611,884 and sold 25,716 shares valued at $513,205. 24.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors have recently bought and sold shares of AESI. Cetera Investment Advisers increased its stake in Atlas Energy Solutions by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after buying an additional 897 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Atlas Energy Solutions by 5.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 646,571 shares of the company’s stock valued at $12,886,000 after acquiring an additional 30,779 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Atlas Energy Solutions by 168.7% in the second quarter. The Manufacturers Life Insurance Company now owns 40,677 shares of the company’s stock worth $811,000 after acquiring an additional 25,540 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Atlas Energy Solutions by 71.2% during the second quarter. Dark Forest Capital Management LP now owns 40,050 shares of the company’s stock worth $798,000 after acquiring an additional 16,652 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Atlas Energy Solutions during the second quarter valued at $8,898,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.