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

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.67.

A number of research firms have recently commented on AESI. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective for the company. Barclays lowered 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. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th.

Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard bought 1,797 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the purchase, the insider now directly owns 7,507,194 shares in the company, valued at $147,516,362.10. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total transaction of $184,190.79. Following the sale, the insider now owns 934,746 shares of the company’s stock, valued at $20,087,691.54. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 133,213 shares valued at $2,959,311. 24.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Atlas Energy Solutions by 1.6% during 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 period. Beck Capital Management LLC increased its position in Atlas Energy Solutions by 0.6% during the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock valued at $2,603,000 after purchasing an additional 749 shares during the period. CWM LLC raised its holdings in Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Atlas Energy Solutions by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after purchasing an additional 897 shares during the period. Finally, FMR LLC boosted its stake in shares of Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Down 1.2 %

Atlas Energy Solutions stock opened at $21.98 on Tuesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 11.53 and a beta of 0.96. The firm has a 50 day simple moving average of $21.66 and a 200 day simple moving average of $20.99. Atlas Energy Solutions has a 1-year low of $15.55 and a 1-year high of $24.93. 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) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 93.1% compared to the same quarter last year. On average, analysts predict that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.37%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 121.52%.

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.