Atlas Energy Solutions Inc. (NYSE:AESI) Announces Quarterly Dividend of $0.25

Atlas Energy Solutions Inc. (NYSE:AESI) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Stockholders of record on Friday, February 21st will be given a dividend of 0.25 per share on Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24.

Atlas Energy Solutions has a payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atlas Energy Solutions to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 64.0%.

Atlas Energy Solutions Stock Performance

AESI stock traded down $0.31 during trading on Wednesday, reaching $21.91. The company had a trading volume of 1,298,931 shares, compared to its average volume of 1,590,031. Atlas Energy Solutions has a twelve month low of $17.49 and a twelve month high of $26.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 27.73 and a beta of 1.03. The firm has a 50-day simple moving average of $22.66 and a 200-day simple moving average of $21.61.

Wall Street Analyst Weigh In

AESI has been the subject of several recent research reports. Bank of America reaffirmed a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a report on Monday, January 13th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. 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. Finally, Stephens lifted 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 note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Insider Buying and Selling

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.02, for a total transaction of $720,600.00. Following the completion of the sale, the insider now owns 432,010 shares in the company, valued at $10,376,880.20. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $22.50, for a total value of $225,000.00. Following the sale, the insider now owns 897,604 shares of the company’s stock, valued at $20,196,090. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,071 shares of company stock worth $2,708,851. Company insiders own 24.34% 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.