Royal Bank of Canada Reiterates “Outperform” Rating for Atlas Energy Solutions (NYSE:AESI)

Royal Bank of Canada restated their outperform rating on shares of Atlas Energy Solutions (NYSE:AESI) in a report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $25.00 target price on the stock.

A number of other research analysts also recently weighed in on AESI. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target on the stock. Barclays dropped their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Piper Sandler started coverage on shares of Atlas Energy Solutions in a report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 price target for the company. Stephens upped their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Bank of America reissued a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned 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 $23.83.

Atlas Energy Solutions Price Performance

AESI stock opened at $18.45 on Wednesday. Atlas Energy Solutions has a one year low of $16.98 and a one year high of $26.86. The firm has a 50-day moving average of $20.13 and a two-hundred day moving average of $21.27. The firm has a market capitalization of $2.25 billion, a PE ratio of 23.35 and a beta of 1.18. 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 (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $271.34 million during the quarter, compared to analysts’ expectations of $272.94 million. On average, analysts forecast that Atlas Energy Solutions will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 5.42%. Atlas Energy Solutions’s dividend payout ratio is currently 178.57%.

Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard acquired 32,155 shares of Atlas Energy Solutions stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $24.46, for a total transaction of $305,750.00. Following the completion of the transaction, the insider now owns 362,010 shares in the company, valued at $8,854,764.60. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $1,049,750 over the last three months. 24.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in AESI. Quarry LP bought a new stake in Atlas Energy Solutions during the 4th quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after acquiring an additional 1,047 shares during the last quarter. Global Retirement Partners LLC increased its position in Atlas Energy Solutions by 191.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after acquiring an additional 1,276 shares during the period. Finally, Promus Capital LLC acquired a new position in Atlas Energy Solutions during the 4th quarter valued at $55,000. 34.59% of the stock is owned by institutional investors and hedge funds.

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.