Brokerages Set Atlas Energy Solutions Inc. (NYSE:AESI) Target Price at $24.44

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.44.

Several equities analysts have issued reports on AESI shares. Stephens reiterated an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. The Goldman Sachs Group downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $21.00 in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th.

Atlas Energy Solutions Trading Up 2.5 %

Shares of AESI opened at $24.02 on Friday. The stock has a fifty day moving average price of $21.28 and a two-hundred day moving average price of $21.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 11.85 and a beta of 0.96.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. Analysts predict that Atlas Energy Solutions will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 1,797 shares of the company’s stock in a transaction on Friday, October 18th. The shares were purchased at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the purchase, the insider now directly owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. This represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total value of $184,190.79. Following the completion of the sale, the insider now owns 934,746 shares in the company, valued at $20,087,691.54. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 115,713 shares valued at $2,517,431. 24.34% of the stock is owned by insiders.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Atlas Energy Solutions by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock valued at $104,409,000 after buying an additional 33,286 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Atlas Energy Solutions by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock valued at $53,740,000 after buying an additional 30,082 shares during the period. Meridian Wealth Advisors LLC raised its stake in Atlas Energy Solutions by 25.8% in the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares during the period. Copeland Capital Management LLC raised its stake in Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after buying an additional 311,228 shares during the period. Finally, State Street Corp increased its stake 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 purchasing an additional 227,776 shares during the period. Institutional investors own 34.59% of the company’s stock.

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.