Atlas Energy Solutions (NYSE:AESI) Cut to “Equal Weight” at Barclays

Barclays lowered shares of Atlas Energy Solutions (NYSE:AESI) from an overweight rating to an equal weight rating in a research note released on Tuesday, Marketbeat Ratings reports. They currently have $19.00 price objective on the stock, down from their prior price objective of $23.00.

A number of other research firms have also recently commented on AESI. The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Bank of America reduced their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler lowered their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Atlas Energy Solutions has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $21.49 on Tuesday. The stock’s fifty day moving average price is $20.93 and its two-hundred day moving average price is $21.10. The firm has a market cap of $2.37 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 11.42 and a beta of 0.69. 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 one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 93.1% on a year-over-year basis. As a group, research analysts expect that Atlas Energy Solutions will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a $0.24 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.96 annualized dividend and a yield of 4.47%. Atlas Energy Solutions’s payout ratio is presently 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 1,797 shares of Atlas Energy Solutions stock in a transaction dated Friday, October 18th. The stock was purchased at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the acquisition, the insider now directly owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Gregory M. Shepard bought 1,797 shares of the stock in a transaction dated Friday, October 18th. The stock was bought at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the acquisition, the insider now directly owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 65,713 shares valued at $1,367,117. Insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its position in Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after purchasing an additional 1,308 shares during the period. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions during the third quarter valued at about $48,000. Amalgamated Bank boosted its holdings in shares of 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 period. CWM LLC grew its stake in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Atlas Energy Solutions during the 1st quarter valued at about $78,000. 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.