Atlas Energy Solutions (NYSE:AESI) Receives Neutral Rating from Bank of America

Bank of America reiterated their neutral rating on shares of Atlas Energy Solutions (NYSE:AESI - Free Report) in a report issued on Monday morning, MarketBeat.com reports. They currently have a $22.50 price objective on the stock.

Other analysts also recently issued reports about the stock. Barclays downgraded shares of Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Raymond James cut Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They issued a "neutral" rating and a $23.00 price target on the stock. Finally, Citigroup lowered shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Atlas Energy Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

Atlas Energy Solutions Stock Performance

NYSE AESI traded down $0.16 during trading hours on Monday, hitting $21.60. 141,762 shares of the company's stock traded hands, compared to its average volume of 582,067. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The firm has a market capitalization of $2.38 billion, a P/E ratio of 27.34, a P/E/G ratio of 11.53 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The business's fifty day moving average price is $22.15 and its two-hundred day moving average price is $21.17.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million during the quarter, compared to analysts' expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company's revenue for the quarter was up 93.1% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Equities research analysts predict 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. Investors of record on Thursday, November 7th were paid a $0.24 dividend. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions's payout ratio is currently 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard purchased 8,062 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average cost of $19.84 per share, with a total value of $159,950.08. Following the purchase, the insider now owns 7,515,256 shares of the company's stock, valued at $149,102,679.04. This represents a 0.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total value of $427,800.00. Following the sale, the insider now owns 512,010 shares of the company's stock, valued at approximately $10,951,893.90. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 119,642 shares valued at $2,685,121. 24.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its stake in Atlas Energy Solutions by 9.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 33,733 shares of the company's stock worth $748,000 after purchasing an additional 3,044 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Atlas Energy Solutions by 324.3% in the 3rd 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 in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Atlas Energy Solutions during the 3rd quarter worth $844,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Atlas Energy Solutions during the 3rd quarter valued at about $298,000. Finally, Ashford Capital Management Inc. grew its holdings in shares of Atlas Energy Solutions by 27.9% in the third quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company's stock valued at $12,775,000 after purchasing an additional 127,910 shares during the period. 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.