The Goldman Sachs Group Begins Coverage on Atlas Energy Solutions (NYSE:AESI)

The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions (NYSE:AESI - Free Report) in a research report sent to investors on Friday. The firm issued a neutral rating and a $23.00 price target on the stock.

Several other analysts have also recently issued reports on AESI. Pickering Energy Partners cut shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Citigroup downgraded 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Barclays lowered Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.67.

Atlas Energy Solutions Price Performance

NYSE:AESI traded up $0.54 during trading hours on Friday, reaching $23.16. The stock had a trading volume of 1,099,866 shares, compared to its average volume of 963,479. The stock has a market capitalization of $2.55 billion, a PE ratio of 29.32, a PEG ratio of 11.53 and a beta of 0.96. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The company has a 50 day moving average price of $21.42 and a two-hundred day moving average price of $21.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings results 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 return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The company's revenue for the quarter was up 93.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.15%. Atlas Energy Solutions's dividend payout ratio is presently 121.52%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard purchased 1,797 shares of the company's stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $19.65 per share, with a total value of $35,311.05. Following the transaction, the insider now owns 7,507,194 shares of the company's stock, valued at $147,516,362.10. This represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares of the company's stock, valued at $11,111,205. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 60,869 shares of company stock worth $1,187,983 and sold 119,642 shares worth $2,650,185. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Atlas Energy Solutions by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company's stock valued at $53,740,000 after buying an additional 30,082 shares during the last quarter. Meridian Wealth Advisors LLC boosted its stake in Atlas Energy Solutions by 25.8% in the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company's stock valued at $53,362,000 after acquiring an additional 548,620 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company's stock worth $41,072,000 after purchasing an additional 311,228 shares during the last quarter. State Street Corp increased its position 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 purchasing an additional 227,776 shares in the last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of Atlas Energy Solutions by 775.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company's stock valued at $33,861,000 after purchasing an additional 1,504,988 shares during the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Company Profile

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.