Barclays Cuts Atlas Energy Solutions (NYSE:AESI) Price Target to $23.00

Atlas Energy Solutions (NYSE:AESI) had its price target reduced by Barclays from $26.00 to $23.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also commented on AESI. Royal Bank of Canada lowered their price objective on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Stephens reiterated an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Tudor Pickering upgraded shares of Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th. Bank of America lowered their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Piper Sandler decreased their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Buy” and a consensus target price of $25.75.

Atlas Energy Solutions Stock Performance

AESI opened at $19.94 on Wednesday. The business’s 50 day moving average is $20.98 and its 200-day moving average is $21.45. The stock has a market cap of $1.99 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. During the same period last year, the firm posted $0.69 EPS. The business’s quarterly revenue was up 77.7% on a year-over-year basis. On average, analysts predict that Atlas Energy Solutions will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.61%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, August 15th. Atlas Energy Solutions’s payout ratio is presently 51.11%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the transaction, the insider now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 35,713 shares of company stock worth $729,117. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors have recently modified their holdings of AESI. First Horizon Advisors Inc. boosted its stake in shares of Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the period. Amalgamated Bank boosted its stake in shares of Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after buying an additional 1,801 shares during the period. CWM LLC boosted its stake in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after buying an additional 886 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Atlas Energy Solutions during the 1st quarter valued at $78,000. Institutional investors and hedge funds 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.