Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Buys $256,435.97 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 13,363 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $19.19 per share, for a total transaction of $256,435.97. Following the purchase, the insider now owns 7,619,055 shares in the company, valued at $146,209,665.45. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Down 2.8 %

Shares of AESI stock opened at $20.58 on Friday. Atlas Energy Solutions Inc. has a 12 month low of $15.55 and a 12 month high of $24.93. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.26 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 11.04 and a beta of 0.69. The stock has a 50 day moving average of $20.89 and a 200-day moving average of $21.15.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, equities analysts predict that Atlas Energy Solutions Inc. will post 0.8 EPS for the current 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 given a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.66%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 116.46%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AESI. Bank of America decreased their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Piper Sandler decreased their target price on 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, Barclays dropped their price target on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $25.25.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after purchasing an additional 33,286 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Atlas Energy Solutions by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock worth $53,740,000 after buying an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC increased its holdings in Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares during the period. Janus Henderson Group PLC raised its stake in shares of Atlas Energy Solutions by 26.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock valued at $57,392,000 after buying an additional 537,927 shares in the last quarter. Finally, Whitebox Advisors LLC acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $49,712,000. Institutional investors and hedge funds 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.