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

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.67.

A number of research firms have recently issued reports on AESI. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target on the stock. 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. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th.

Atlas Energy Solutions Trading Up 1.5 %

AESI stock opened at $22.32 on Tuesday. Atlas Energy Solutions has a 12 month low of $15.55 and a 12 month high of $24.93. The firm’s 50-day moving average is $21.71 and its 200 day moving average is $21.00. The company has a market capitalization of $2.46 billion, a PE ratio of 28.25, a P/E/G ratio of 11.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions (NYSE:AESI) last posted 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 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 period in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 93.1% on a year-over-year basis. On average, research analysts anticipate that Atlas Energy Solutions will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared 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 of this dividend was Thursday, November 7th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.30%. Atlas Energy Solutions’s dividend payout ratio is 121.52%.

Insiders Place Their Bets

In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gregory M. Shepard bought 23,300 shares of Atlas Energy Solutions stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $19.55 per share, with a total value of $455,515.00. Following the acquisition, the insider now directly owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. The trade was a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 133,213 shares worth $2,959,311. Insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AESI. Quest Partners LLC acquired a new stake in shares of Atlas Energy Solutions in the 3rd quarter worth $48,000. Amalgamated Bank increased its position in Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares during the last quarter. FMR LLC raised its stake in 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. CWM LLC boosted 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 valued at $60,000 after purchasing an additional 886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Atlas Energy Solutions in the 2nd quarter valued at approximately $74,000. 34.59% of the stock is 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.