Atlas Energy Solutions (NYSE:AESI) Downgraded by Barclays to Equal Weight

Barclays cut shares of Atlas Energy Solutions (NYSE:AESI) from an overweight rating to an equal weight rating in a research report released on Tuesday, MarketBeat reports. Barclays currently has $19.00 price objective on the stock, down from their previous price objective of $23.00.

AESI has been the topic of several other research reports. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. The Goldman Sachs Group cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Piper Sandler cut their price target on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.75.

Atlas Energy Solutions Trading Down 2.4 %

AESI opened at $21.49 on Tuesday. The firm’s fifty day moving average is $20.93 and its two-hundred day moving average is $21.10. The firm has a market cap of $2.37 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 11.42 and a beta of 0.69. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Equities research analysts anticipate that Atlas Energy Solutions will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.47%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 121.52%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard bought 1,797 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the purchase, the insider now owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Gregory M. Shepard bought 1,797 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the purchase, the insider now owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the transaction, the insider now owns 943,317 shares of the company’s stock, valued at $18,338,082.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 65,713 shares worth $1,367,117. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently modified their holdings of AESI. Charles Schwab Investment Management Inc. grew its stake in Atlas Energy Solutions by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock valued at $11,305,000 after buying an additional 25,999 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Atlas Energy Solutions in the third quarter valued at approximately $323,000. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions during the third quarter worth approximately $48,000. Principal Financial Group Inc. acquired a new stake in Atlas Energy Solutions during the 3rd quarter worth approximately $844,000. Finally, Emerald Advisers LLC boosted its stake in Atlas Energy Solutions by 28.4% in the 3rd quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock valued at $237,000 after purchasing an additional 2,400 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.