Atlas Energy Solutions’ (AESI) “Outperform” Rating Reiterated at Royal Bank of Canada

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

Several other equities research analysts have also commented on AESI. Stephens reaffirmed an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Bank of America decreased 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. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Piper Sandler reduced their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, The Goldman Sachs Group lowered their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $25.75.

Atlas Energy Solutions Trading Down 2.0 %

Shares of AESI stock opened at $19.18 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a 12-month low of $15.55 and a 12-month high of $24.93. The stock has a market capitalization of $2.11 billion, a P/E ratio of 24.28, a P/E/G ratio of 9.39 and a beta of 0.56. The firm’s 50 day moving average is $20.98 and its 200 day moving average is $21.21.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results 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 firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Research analysts expect that Atlas Energy Solutions will post 0.94 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.01%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, November 7th. Atlas Energy Solutions’s payout ratio is presently 116.46%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Gregory M. Shepard acquired 23,300 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the transaction, the insider now directly owns 7,540,306 shares in the company, valued at approximately $147,412,982.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 33,159 shares of company stock valued at $650,776 and sold 45,713 shares valued at $939,317. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently added to or reduced their stakes in the company. Beck Capital Management LLC boosted its position in shares of Atlas Energy Solutions by 0.6% during the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock valued at $2,603,000 after acquiring an additional 749 shares during the last quarter. CWM LLC lifted its position in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Atlas Energy Solutions by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after buying an additional 897 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of 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. Finally, Amalgamated Bank increased its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors 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.