Citigroup Cuts Atlas Energy Solutions (NYSE:AESI) Price Target to $14.00

Atlas Energy Solutions (NYSE:AESI) had its target price lowered by Citigroup from $18.00 to $14.00 in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler cut their price objective on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Barclays lowered their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Bank of America reissued a “neutral” rating and set a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. Finally, Stephens increased their price target on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions currently has an average rating of “Moderate Buy” and an average target price of $19.81.

Atlas Energy Solutions Stock Down 3.5%

NYSE:AESI opened at $12.77 on Tuesday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 16.16 and a beta of 1.34. Atlas Energy Solutions has a 1-year low of $11.76 and a 1-year high of $26.86. The company’s fifty day moving average price is $15.14 and its 200-day moving average price is $19.54. 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 (NYSE:AESI) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The business had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, equities research analysts anticipate that Atlas Energy Solutions will post 0.83 EPS for the current year.

Atlas Energy Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date is Thursday, May 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 322.58%.

Insider Activity

In related news, major shareholder Gregory M. Shepard purchased 32,155 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $19.04 per share, with a total value of $612,231.20. Following the purchase, the insider now owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. This represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ben M. Brigham purchased 9,635 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the purchase, the chairman now directly owns 572,397 shares in the company, valued at $7,658,671.86. This represents a 1.71% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Atlas Energy Solutions in the fourth quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock worth $30,000 after buying an additional 523 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after buying an additional 1,047 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after buying an additional 1,276 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Atlas Energy Solutions by 201.8% during the first quarter. Larson Financial Group LLC now owns 1,968 shares of the company’s stock worth $35,000 after purchasing an additional 1,316 shares during the last quarter. 34.59% of the stock is 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.