Barclays Trims Atlas Energy Solutions (NYSE:AESI) Target Price to $23.00

Atlas Energy Solutions (NYSE:AESI) had its target price lowered by Barclays from $26.00 to $23.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Benchmark reissued a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their target price on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Stephens restated an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. The Goldman Sachs Group cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler lowered their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Buy” and an average target price of $25.75.

Atlas Energy Solutions Stock Performance

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

Atlas Energy Solutions (NYSE:AESI) last issued 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). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $270.55 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Atlas Energy Solutions’s revenue for the quarter was up 77.7% on a year-over-year basis. Research analysts expect that Atlas Energy Solutions will post 1.48 EPS 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. This represents a $0.92 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Thursday, August 15th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total transaction of $184,190.79. Following the completion of the sale, the insider now directly owns 934,746 shares in the company, valued at $20,087,691.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total transaction of $184,190.79. Following the transaction, the insider now owns 934,746 shares of the company’s stock, valued at $20,087,691.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the sale, the insider now owns 542,010 shares in the company, valued at $11,111,205. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,713 shares of company stock worth $729,117. Corporate insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AESI. B & T Capital Management DBA Alpha Capital Management boosted its position in shares of Atlas Energy Solutions by 2.8% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 348,731 shares of the company’s stock worth $7,602,000 after acquiring an additional 9,380 shares during the last quarter. CWM LLC boosted its holdings in shares of 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. Diversified Trust Co purchased a new stake in shares of Atlas Energy Solutions during the 3rd quarter valued at $201,000. SG Americas Securities LLC acquired a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth $249,000. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Atlas Energy Solutions by 11.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 19,457 shares of the company’s stock worth $424,000 after buying an additional 1,952 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.