Atlas Energy Solutions (NYSE:AESI) PT Lowered to $25.00

Atlas Energy Solutions (NYSE:AESI) had its price objective lowered by Royal Bank of Canada from $26.00 to $25.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts also recently commented on the stock. Tudor Pickering raised shares of Atlas Energy Solutions to a strong-buy rating in a report on Monday, June 24th. Stephens restated an overweight rating and set a $28.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Benchmark reaffirmed a buy rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Bank of America lowered their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a buy rating for the company in a research report on Monday, July 15th. Finally, Tudor, Pickering, Holt & Co. assumed coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They issued a buy rating on the stock. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $26.13.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $20.40 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The stock has a 50-day simple moving average of $20.94 and a two-hundred day simple moving average of $21.48. The firm has a market capitalization of $2.04 billion, a PE ratio of 11.33, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). The firm had revenue of $287.52 million during the quarter, compared to the consensus estimate of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business’s revenue for the quarter was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. Analysts forecast that Atlas Energy Solutions will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.22, for a total value of $173,305.62. Following the transaction, the insider now directly owns 951,888 shares of the company’s stock, valued at $19,247,175.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 3,248 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the transaction, the insider now directly owns 7,503,197 shares of the company’s stock, valued at approximately $162,669,310.96. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.22, for a total value of $173,305.62. Following the sale, the insider now directly owns 951,888 shares in the company, valued at $19,247,175.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,713 shares of company stock valued at $524,117 in the last three months. 24.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in AESI. First Horizon Advisors Inc. grew its holdings in Atlas Energy Solutions by 313.7% in the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares during the period. Amalgamated Bank increased its holdings 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 acquiring an additional 1,801 shares in the last quarter. CWM LLC increased its holdings 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 acquiring an additional 886 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Atlas Energy Solutions during the first quarter worth $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Atlas Energy Solutions during the second quarter valued at $74,000. 34.59% of the stock is currently 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.