Brokerages Set Atlas Energy Solutions Inc. (NYSE:AESI) PT at $26.25

Atlas Energy Solutions Inc. (NYSE:AESI) has earned an average rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $26.13.

Several analysts have recently issued reports on AESI shares. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Piper Sandler reduced their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Tudor, Pickering, Holt & Co. began coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating on the stock. Finally, Bank of America reduced their price objective on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard bought 3,248 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the transaction, the insider now owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Gregory M. Shepard bought 3,248 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the transaction, the insider now owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares of the company’s stock, valued at $18,338,082.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,713 shares of company stock worth $524,117. 24.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. raised its position in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares during the last quarter. Amalgamated Bank raised its position in shares of Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after acquiring an additional 1,801 shares during the last quarter. CWM LLC raised 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 acquiring an additional 886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Atlas Energy Solutions during the second quarter worth about $74,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Atlas Energy Solutions during the first quarter worth about $78,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI opened at $20.45 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. The stock’s fifty day moving average price is $20.89 and its two-hundred day moving average price is $21.51. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business’s revenue for the quarter was up 77.7% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities analysts forecast that Atlas Energy Solutions will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 4.50%. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 73.02%.

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.