Atlas Energy Solutions (NYSE:AESI) Lowered to “Hold” Rating by Raymond James

Raymond James lowered shares of Atlas Energy Solutions (NYSE:AESI) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on the company. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 target price on the stock. Citigroup lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Finally, Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Atlas Energy Solutions Price Performance

NYSE AESI opened at $22.40 on Monday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 11.53 and a beta of 1.03. 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 has a 1-year low of $15.55 and a 1-year high of $24.93. The business’s fifty day moving average price is $22.01 and its 200-day moving average price is $21.13.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) 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 firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same period in the previous year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, equities 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. Shareholders of record on Thursday, November 7th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is 121.52%.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the completion of the sale, the insider now owns 917,604 shares in the company, valued at approximately $20,691,970.20. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.02, for a total value of $720,600.00. Following the sale, the insider now owns 432,010 shares of the company’s stock, valued at approximately $10,376,880.20. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 60,869 shares of company stock valued at $1,187,983 and have sold 129,642 shares valued at $2,890,121. Insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its position in shares of Atlas Energy Solutions by 28.6% in the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after buying an additional 28,158 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Atlas Energy Solutions by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock valued at $11,305,000 after acquiring an additional 25,999 shares in the last quarter. Ashford Capital Management Inc. grew its holdings in Atlas Energy Solutions by 27.9% in the third quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock worth $12,775,000 after purchasing an additional 127,910 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Atlas Energy Solutions during the third quarter worth $844,000. Finally, State Street Corp boosted its holdings in Atlas Energy Solutions by 15.0% in the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after acquiring an additional 227,776 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

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.