Atlas Energy Solutions’ (AESI) Neutral Rating Reiterated at Bank of America

Bank of America restated their neutral rating on shares of Atlas Energy Solutions (NYSE:AESI) in a research note published on Monday, MarketBeat Ratings reports. The firm currently has a $22.50 price target on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Atlas Energy Solutions Trading Up 5.3 %

Shares of Atlas Energy Solutions stock opened at $23.95 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The firm has a market capitalization of $2.64 billion, a PE ratio of 30.32, a P/E/G ratio of 11.53 and a beta of 1.03. The firm’s 50-day moving average price is $22.29 and its 200 day moving average price is $21.22.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same period in the prior year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was up 93.1% compared to the same quarter last year. On average, sell-side analysts predict that Atlas Energy Solutions will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change 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 4.01%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

Insider Activity

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 1,797 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $19.65 per share, with a total value of $35,311.05. Following the transaction, the insider now owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.02, for a total value of $720,600.00. Following the completion of the transaction, the insider now directly owns 432,010 shares of the company’s stock, valued at $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 129,642 shares worth $2,904,721. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of AESI. Quest Partners LLC purchased a new stake in shares of Atlas Energy Solutions in the 3rd quarter valued at about $48,000. Amalgamated Bank grew its position in Atlas Energy Solutions by 328.1% during the 2nd 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 last quarter. FMR LLC increased its stake in Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the period. CWM LLC raised its holdings 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 valued at $60,000 after buying an additional 886 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Atlas Energy Solutions by 54.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock worth $107,000 after buying an additional 1,860 shares during the last quarter. 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.