Atlas Energy Solutions Inc. (NYSE:AESI) Receives Average Recommendation of “Buy” from Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has earned an average recommendation of “Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $25.75.

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Tudor, Pickering, Holt & Co. assumed coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They set a “buy” rating for the company. Stephens restated an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Finally, Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now owns 943,317 shares of the company’s stock, valued at $18,338,082.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the sale, the insider now directly owns 542,010 shares in the company, valued at $11,111,205. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,713 shares of company stock worth $729,117 in the last 90 days. 24.34% of the stock is currently owned by company insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in AESI. Whitebox Advisors LLC bought a new stake in Atlas Energy Solutions during the 1st quarter valued at $49,712,000. Price T Rowe Associates Inc. MD raised its stake in shares of Atlas Energy Solutions by 9,759.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock worth $36,838,000 after buying an additional 1,611,968 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Atlas Energy Solutions by 775.7% in the 2nd quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after buying an additional 1,504,988 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Atlas Energy Solutions by 127.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,136,136 shares of the company’s stock worth $19,564,000 after buying an additional 637,249 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Atlas Energy Solutions by 38.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock worth $52,145,000 after buying an additional 636,785 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $20.37 on Thursday. The stock’s 50-day moving average is $20.96 and its 200-day moving average is $21.47. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. Atlas Energy Solutions has a 12 month low of $15.55 and a 12 month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). The company had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The business’s quarterly revenue was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. Equities analysts anticipate that Atlas Energy Solutions will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.92 dividend on an annualized basis and a yield of 4.52%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s payout ratio is currently 51.11%.

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.