Atlas Energy Solutions (NYSE:AESI) Given New $25.00 Price Target at Royal Bank of Canada

Atlas Energy Solutions (NYSE:AESI) had its target price reduced by Royal Bank of Canada from $28.00 to $25.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently issued reports on AESI. Barclays lifted their price objective on Atlas Energy Solutions from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective on the stock. Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Stephens raised their price target on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Benchmark 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 report on Wednesday. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.83.

Atlas Energy Solutions Price Performance

AESI stock opened at $19.38 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions has a 1 year low of $17.49 and a 1 year high of $26.86. The firm has a 50-day moving average of $22.37 and a 200 day moving average of $21.66. The company has a market cap of $2.14 billion, a P/E ratio of 24.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The firm had revenue of $271.34 million during the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. On average, sell-side analysts forecast that Atlas Energy Solutions will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.16%. The ex-dividend date was Friday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s payout ratio is currently 126.58%.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $23.17, for a total value of $115,850.00. Following the completion of the transaction, the insider now directly owns 409,510 shares in the company, valued at $9,488,346.70. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05. Following the sale, the insider now owns 917,604 shares in the company, valued at $20,691,970.20. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,071 shares of company stock valued at $1,773,251 over the last quarter. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Atlas Energy Solutions by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company’s stock valued at $153,382,000 after purchasing an additional 773,035 shares during the period. First Trust Advisors LP grew its holdings in Atlas Energy Solutions by 31.5% during the 4th quarter. First Trust Advisors LP now owns 3,908,810 shares of the company’s stock valued at $86,697,000 after buying an additional 935,410 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Atlas Energy Solutions by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company’s stock valued at $75,197,000 after buying an additional 689,846 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Atlas Energy Solutions by 19.3% in the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after buying an additional 363,742 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after acquiring an additional 227,776 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.