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

Atlas Energy Solutions Inc. (NYSE:AESI) has been assigned a consensus rating of “Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

AESI has been the subject of several research analyst reports. Barclays raised their target price on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Thursday, March 14th. They set a “buy” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $22.61 on Friday. The business has a 50 day moving average of $19.17 and a 200-day moving average of $18.97. Atlas Energy Solutions has a 1 year low of $15.28 and a 1 year high of $24.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.44 and a quick ratio of 3.21. The company has a market capitalization of $2.26 billion and a P/E ratio of 14.40.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). The business had revenue of $141.14 million for the quarter, compared to the consensus estimate of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. On average, equities research analysts predict that Atlas Energy Solutions will post 2.98 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.72%. Atlas Energy Solutions’s payout ratio is 40.76%.

Insider Activity

In related news, major shareholder Stacy Hock sold 50,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the transaction, the insider now directly owns 970,738 shares in the company, valued at approximately $19,385,637.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the completion of the transaction, the insider now owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Richard W. Schmidt sold 166,710 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $21.94, for a total value of $3,657,617.40. Following the transaction, the insider now directly owns 1,140,596 shares of the company’s stock, valued at approximately $25,024,676.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,860 shares of company stock worth $5,332,121. 82.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Atlas Energy Solutions by 180.5% during the 4th quarter. Vanguard Group Inc. now owns 4,582,507 shares of the company’s stock worth $78,911,000 after purchasing an additional 2,948,611 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Atlas Energy Solutions in the fourth quarter valued at approximately $27,963,000. Villere ST Denis J & Co. LLC increased its position in Atlas Energy Solutions by 258.0% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 1,813,539 shares of the company’s stock worth $31,229,000 after purchasing an additional 1,306,900 shares during the last quarter. Meridian Wealth Advisors LLC purchased a new stake in Atlas Energy Solutions during the fourth quarter worth approximately $21,795,000. Finally, BlackRock Inc. boosted its stake in shares of Atlas Energy Solutions by 532.0% in the second quarter. BlackRock Inc. now owns 1,263,197 shares of the company’s stock valued at $21,929,000 after purchasing an additional 1,063,316 shares during the period. Hedge funds and other institutional investors 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.