JPMorgan Chase & Co. Sells 116,422 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

JPMorgan Chase & Co. reduced its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 59.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,072 shares of the company's stock after selling 116,422 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of Atlas Energy Solutions worth $1,732,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in AESI. Prudential Financial Inc. bought a new position in shares of Atlas Energy Solutions in the fourth quarter valued at approximately $1,366,000. Vanguard Group Inc. grew its position in shares of Atlas Energy Solutions by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after purchasing an additional 773,035 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Atlas Energy Solutions in the fourth quarter worth about $155,000. Sei Investments Co. boosted its stake in Atlas Energy Solutions by 15.5% during the 4th quarter. Sei Investments Co. now owns 213,857 shares of the company's stock valued at $4,744,000 after purchasing an additional 28,639 shares during the period. Finally, American Century Companies Inc. grew its holdings in Atlas Energy Solutions by 299.3% in the 4th quarter. American Century Companies Inc. now owns 276,865 shares of the company's stock valued at $6,141,000 after buying an additional 207,523 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Trading Up 0.4 %

AESI stock traded up $0.06 during trading on Tuesday, hitting $14.45. The company had a trading volume of 480,414 shares, compared to its average volume of 1,252,732. The firm has a 50-day moving average price of $16.63 and a 200-day moving average price of $20.15. Atlas Energy Solutions Inc. has a 12 month low of $12.41 and a 12 month high of $26.86. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 18.28 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). The firm had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 6.92%. Atlas Energy Solutions's dividend payout ratio is presently 178.57%.

Insider Activity

In related news, major shareholder Stacy Hock sold 10,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.50, for a total value of $225,000.00. Following the completion of the sale, the insider now owns 897,604 shares in the company, valued at $20,196,090. This represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $19.04 per share, with a total value of $612,231.20. Following the completion of the acquisition, the insider now directly owns 7,651,210 shares of the company's stock, valued at approximately $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.98% of the company's stock.

Analyst Upgrades and Downgrades

AESI has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, April 2nd. The Goldman Sachs Group decreased their target price on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Piper Sandler assumed coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $22.00 price objective for the company. Stephens raised their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Finally, Bank of America restated a "neutral" rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.44.

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.