Atlas Energy Solutions Inc. (NYSE:AESI) Given Average Rating of “Buy” by Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $25.17.

AESI has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research note on Thursday, March 14th. They set a “buy” rating and a $24.00 target price for the company. Raymond James lifted their price objective on Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada upped their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Barclays increased their target price on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th.

Atlas Energy Solutions Trading Down 0.9 %

AESI opened at $21.97 on Thursday. The firm’s 50 day moving average is $20.80 and its 200-day moving average is $18.91. Atlas Energy Solutions has a 52-week low of $15.28 and a 52-week high of $24.69. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.20 billion and a P/E ratio of 13.99.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The firm had revenue of $141.14 million for the quarter, compared to analysts’ expectations of $147.34 million. Analysts expect that Atlas Energy Solutions will post 2.92 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.84 annualized dividend and a yield of 3.82%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.20. Atlas Energy Solutions’s dividend payout ratio is presently 40.76%.

Insiders Place Their Bets

In other news, CFO John Gregory Turner sold 3,728 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.58, for a total value of $84,178.24. Following the completion of the sale, the chief financial officer now directly owns 1,582,303 shares in the company, valued at approximately $35,728,401.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO John Gregory Turner sold 3,728 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.58, for a total value of $84,178.24. Following the transaction, the chief financial officer now directly owns 1,582,303 shares in the company, valued at approximately $35,728,401.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey L. Allison sold 1,547 shares of Atlas Energy Solutions stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.50, for a total transaction of $34,807.50. Following the completion of the transaction, the executive vice president now directly owns 132,518 shares of the company’s stock, valued at $2,981,655. The disclosure for this sale can be found here. Insiders have sold a total of 246,860 shares of company stock valued at $5,332,121 in the last quarter. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Atlas Energy Solutions by 180.5% during the 4th quarter. Vanguard Group Inc. now owns 4,582,507 shares of the company’s stock valued at $78,911,000 after purchasing an additional 2,948,611 shares during the period. Villere ST Denis J & Co. LLC boosted its holdings in shares of Atlas Energy Solutions by 258.0% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 1,813,539 shares of the company’s stock valued at $31,229,000 after acquiring an additional 1,306,900 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Atlas Energy Solutions during the fourth quarter worth about $27,963,000. Meridian Wealth Advisors LLC bought a new position in shares of Atlas Energy Solutions during the fourth quarter worth about $21,795,000. Finally, BlackRock Inc. increased its holdings in shares of Atlas Energy Solutions by 532.0% in the 2nd quarter. BlackRock Inc. now owns 1,263,197 shares of the company’s stock worth $21,929,000 after acquiring an additional 1,063,316 shares during the period. 34.59% of the stock is owned by institutional investors.

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.