Atlas Energy Solutions Inc. (NYSE:AESI) Given Average Recommendation of "Moderate Buy" by Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $24.50.

Several research firms have issued reports on AESI. Raymond James lowered shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Pickering Energy Partners cut Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research note on Wednesday, October 30th. Citigroup lowered shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. 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 research report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard bought 23,300 shares of the business's stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the acquisition, the insider now directly owns 7,540,306 shares in the company, valued at approximately $147,412,982.30. This represents a 0.31 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 20,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total value of $427,800.00. Following the completion of the sale, the insider now directly owns 512,010 shares of the company's stock, valued at $10,951,893.90. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 59,072 shares of company stock valued at $1,152,672 and have sold 137,142 shares valued at $3,084,721. Insiders own 24.34% of the company's stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. Stifel Financial Corp grew its position in shares of Atlas Energy Solutions by 28.6% in the third quarter. Stifel Financial Corp now owns 126,667 shares of the company's stock valued at $2,761,000 after purchasing an additional 28,158 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Atlas Energy Solutions by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company's stock valued at $11,305,000 after buying an additional 25,999 shares during the last quarter. Ashford Capital Management Inc. increased its position in Atlas Energy Solutions by 27.9% in the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company's stock worth $12,775,000 after buying an additional 127,910 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Atlas Energy Solutions during the third quarter worth approximately $844,000. Finally, State Street Corp lifted its holdings in shares of Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company's stock worth $38,173,000 after buying an additional 227,776 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

AESI stock traded down $0.43 during trading hours on Friday, hitting $24.20. 2,093,162 shares of the stock traded hands, compared to its average volume of 678,531. The stock has a 50-day simple moving average of $22.44 and a 200 day simple moving average of $21.29. The company has a market cap of $2.67 billion, a P/E ratio of 30.64, a P/E/G ratio of 5.55 and a beta of 1.03. Atlas Energy Solutions has a one year low of $16.15 and a one year high of $25.38. 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 (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same quarter last year, the business posted $0.51 EPS. The business's revenue for the quarter was up 93.1% on a year-over-year basis. Equities analysts forecast that Atlas Energy Solutions will post 0.87 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 3.97%. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.23. Atlas Energy Solutions's dividend payout ratio is currently 121.52%.

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.