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

Barclays downgraded shares of Atlas Energy Solutions (NYSE:AESI) from an overweight rating to an equal weight rating in a report released on Tuesday morning, Marketbeat Ratings reports. Barclays currently has $19.00 target price on the stock, down from their prior target price of $23.00.

AESI has been the topic of a number of other reports. Stephens reissued an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Bank of America dropped 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 report on Monday, July 15th. The Goldman Sachs Group lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Finally, Piper Sandler dropped their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Down 4.1 %

Shares of NYSE AESI opened at $20.25 on Tuesday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 25.63, a P/E/G ratio of 11.89 and a beta of 0.69. The company has a 50-day moving average price of $20.94 and a 200-day moving average price of $21.09. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. 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 (NYSE:AESI) last issued 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). The business 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%. The firm’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, equities research analysts forecast that Atlas Energy Solutions will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.74%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is 121.52%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the transaction, the insider now owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 60,869 shares of company stock valued at $1,187,983 and have sold 65,713 shares valued at $1,367,117. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake 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 buying an additional 1,308 shares in the last quarter. Amalgamated Bank grew its stake in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. Quest Partners LLC purchased a new position in Atlas Energy Solutions in the 3rd quarter worth approximately $48,000. FMR LLC grew its stake in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after buying an additional 1,355 shares in the last quarter. Finally, CWM LLC grew its stake in Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after buying an additional 886 shares in the last quarter. 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.