Atlas Energy Solutions’ (AESI) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Atlas Energy Solutions (NYSE:AESI) in a report issued on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $25.00 price objective on the stock.

Several other analysts have also recently issued reports on AESI. Barclays decreased their target price 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. 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 for the company in a report on Thursday, August 29th. Bank of America cut their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Piper Sandler cut their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Stephens reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.75.

Atlas Energy Solutions Stock Down 2.7 %

Shares of AESI opened at $19.82 on Wednesday. Atlas Energy Solutions has a 12-month low of $15.55 and a 12-month high of $24.93. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.18 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The business’s 50 day moving average is $21.00 and its 200 day moving average is $21.24.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the previous year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 93.1% compared to the same quarter last year. Research analysts expect that Atlas Energy Solutions will post 1.48 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.84%. The ex-dividend date is Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is 116.46%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard acquired 23,300 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $19.55 per share, with a total value of $455,515.00. Following the completion of the transaction, the insider now directly owns 7,540,306 shares in the company, valued at $147,412,982.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.22, for a total value of $173,305.62. Following the completion of the transaction, the insider now directly owns 951,888 shares of the company’s stock, valued at $19,247,175.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Gregory M. Shepard purchased 23,300 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $19.55 per share, for a total transaction of $455,515.00. Following the purchase, the insider now directly owns 7,540,306 shares in the company, valued at $147,412,982.30. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 33,159 shares of company stock valued at $650,776 and sold 35,713 shares valued at $729,117. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of large investors have recently made changes to their positions in AESI. Diversified Trust Co acquired a new position in Atlas Energy Solutions during the first quarter valued at $209,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $307,000. BNP Paribas Financial Markets purchased a new stake in Atlas Energy Solutions during the first quarter worth $202,000. Capstone Investment Advisors LLC grew its position in Atlas Energy Solutions by 9.2% during the first quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock valued at $12,347,000 after buying an additional 45,859 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Atlas Energy Solutions during the first quarter valued at $396,000. 34.59% of the stock is owned by hedge funds and other 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.