Atlas Energy Solutions (NYSE:AESI) Stock Rating Lowered by Citigroup

Citigroup lowered shares of Atlas Energy Solutions (NYSE:AESI - Free Report) from a buy rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports. The brokerage currently has $22.00 price objective on the stock, down from their prior price objective of $23.00.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Benchmark reissued a "buy" rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Barclays lowered Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $23.00 to $19.00 in a research note on Tuesday. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research note on Wednesday, October 30th. Finally, Stephens restated an "overweight" rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.44.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock traded down $0.87 during mid-day trading on Thursday, reaching $20.25. The company had a trading volume of 981,568 shares, compared to its average volume of 894,858. The stock's 50-day simple moving average is $20.94 and its 200-day simple moving average is $21.09. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a market capitalization of $2.23 billion, a P/E ratio of 25.63, a P/E/G ratio of 11.89 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released 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). The firm had revenue of $304.40 million during the quarter, compared to analysts' expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business's revenue for the quarter was up 93.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. On average, equities analysts predict that Atlas Energy Solutions will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. 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 4.74%. Atlas Energy Solutions's payout ratio is currently 121.52%.

Insider Buying and Selling

In related news, major shareholder Gregory M. Shepard bought 13,363 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $19.19 per share, with a total value of $256,435.97. Following the completion of the transaction, the insider now directly owns 7,619,055 shares of the company's stock, valued at approximately $146,209,665.45. This represents a 0.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares of the company's stock, valued at $18,338,082.48. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 60,869 shares of company stock valued at $1,187,983 and have sold 65,713 shares valued at $1,367,117. Corporate insiders own 24.34% of the company's stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Atlas Energy Solutions by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company's stock valued at $979,000 after buying an additional 711 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Atlas Energy Solutions by 55.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock worth $125,000 after purchasing an additional 2,043 shares during the last quarter. FORA Capital LLC acquired a new position in Atlas Energy Solutions in the third quarter worth $274,000. BNP Paribas Financial Markets increased its stake in Atlas Energy Solutions by 69.3% during the third quarter. BNP Paribas Financial Markets now owns 34,438 shares of the company's stock valued at $751,000 after purchasing an additional 14,093 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after purchasing an additional 1,355 shares during the period. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.