Atlas Energy Solutions (NYSE:AESI) Cut to Neutral at Pickering Energy Partners

by · The Markets Daily

Pickering Energy Partners lowered shares of Atlas Energy Solutions (NYSE:AESI – Free Report) from an outperform rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat reports.

Several other research analysts also recently weighed in on the company. Royal Bank of Canada cut their price target on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Piper Sandler cut their target price on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays lowered their price target on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $25.75.

Check Out Our Latest Research Report on Atlas Energy Solutions

Atlas Energy Solutions Price Performance

AESI opened at $19.18 on Wednesday. The firm has a market cap of $2.11 billion, a P/E ratio of 24.28, a PEG ratio of 9.39 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.23. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The firm has a 50-day moving average of $20.98 and a 200 day moving average of $21.21.

Atlas Energy Solutions (NYSE:AESI – Get Free Report) last issued its quarterly earnings results 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 return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, research analysts expect that Atlas Energy Solutions will post 0.94 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 5.01%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 116.46%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now directly owns 542,010 shares in the company, valued at approximately $11,111,205. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the transaction, the insider now directly owns 542,010 shares in the company, valued at approximately $11,111,205. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 33,159 shares of company stock worth $650,776 and sold 45,713 shares worth $939,317. Corporate insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

A number of hedge funds have recently bought and sold shares of AESI. Vanguard Group Inc. lifted its holdings in shares of Atlas Energy Solutions by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after acquiring an additional 33,286 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Atlas Energy Solutions by 1.1% during 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 last quarter. Meridian Wealth Advisors LLC lifted its stake in shares of Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after acquiring an additional 548,620 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Atlas Energy Solutions by 26.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock valued at $57,392,000 after acquiring an additional 537,927 shares during the period. Finally, Whitebox Advisors LLC bought a new position in Atlas Energy Solutions during the 1st quarter worth approximately $49,712,000. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

(Get Free Report)

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.

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