Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Gregory M. Shepard Acquires 23,300 Shares

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard bought 23,300 shares of Atlas Energy Solutions stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $19.55 per share, with a total value of $455,515.00. Following the acquisition, the insider now directly owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Performance

Shares of AESI opened at $19.82 on Thursday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company’s fifty day moving average is $21.00 and its 200-day moving average is $21.24. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12 month low of $15.55 and a 12 month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. Atlas Energy Solutions’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. Equities analysts expect that Atlas Energy Solutions Inc. will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 4.84%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is presently 116.46%.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently modified their holdings of the company. Whitebox Advisors LLC acquired a new position in Atlas Energy Solutions in the 1st quarter valued at $49,712,000. Price T Rowe Associates Inc. MD boosted its holdings in Atlas Energy Solutions by 9,759.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock valued at $36,838,000 after acquiring an additional 1,611,968 shares during the period. Cooke & Bieler LP grew its position in shares of Atlas Energy Solutions by 775.7% in the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock valued at $33,861,000 after purchasing an additional 1,504,988 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Atlas Energy Solutions by 38.2% in the first quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock worth $52,145,000 after purchasing an additional 636,785 shares during the period. Finally, Meridian Wealth Advisors LLC lifted its position in shares of Atlas Energy Solutions by 25.8% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock worth $53,362,000 after purchasing an additional 548,620 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America reduced their price target on shares of 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. Piper Sandler lowered their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” 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. Finally, 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. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Atlas Energy Solutions currently has an average rating of “Buy” and an average price target of $25.75.

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.