Benchmark Cuts Atlas Energy Solutions (NYSE:AESI) Price Target to $25.00

Atlas Energy Solutions (NYSE:AESI) had its price target cut by Benchmark from $28.00 to $25.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Bank of America reissued a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Stephens upped their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $19.33 on Wednesday. The company’s 50 day simple moving average is $22.41 and its two-hundred day simple moving average is $21.68. 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 1 year low of $17.49 and a 1 year high of $26.86. The stock has a market capitalization of $2.13 billion, a PE ratio of 24.47 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The business had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Analysts predict that Atlas Energy Solutions will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 5.17%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s payout ratio is currently 126.58%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 12,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.95, for a total transaction of $299,375.00. Following the transaction, the insider now owns 419,510 shares in the company, valued at $10,047,264.50. The trade was a 2.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now directly owns 897,604 shares of the company’s stock, valued at $20,196,090. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,071 shares of company stock valued at $1,773,251. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp boosted its holdings in Atlas Energy Solutions by 28.6% in the third quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock valued at $2,761,000 after acquiring an additional 28,158 shares in the last quarter. Hodges Capital Management Inc. lifted its position in Atlas Energy Solutions by 44.7% during the fourth quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company’s stock valued at $4,302,000 after buying an additional 59,940 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Atlas Energy Solutions during the 4th quarter valued at $650,000. Charles Schwab Investment Management Inc. grew its position in shares of Atlas Energy Solutions by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after buying an additional 25,999 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of Atlas Energy Solutions by 19.3% in the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after acquiring an additional 363,742 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.