Benchmark Reaffirms Buy Rating for Atlas Energy Solutions (NYSE:AESI)

Benchmark restated their buy rating on shares of Atlas Energy Solutions (NYSE:AESI) in a research note published on Tuesday, Benzinga reports. Benchmark currently has a $27.00 price objective on the stock.

AESI has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on Atlas Energy Solutions from $25.00 to $28.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Raymond James lifted their price target on Atlas Energy Solutions from $26.00 to $27.00 and gave the company a strong-buy rating in a research note on Tuesday, April 16th. Piper Sandler dropped their price target 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. Tudor, Pickering, Holt & Co. initiated coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They issued a buy rating on the stock. Finally, Bank of America dropped their price target on 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. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $26.56.

Atlas Energy Solutions Trading Down 2.3 %

Atlas Energy Solutions stock traded down $0.45 during mid-day trading on Tuesday, hitting $19.51. 504,563 shares of the company’s stock were exchanged, compared to its average volume of 914,551. The firm has a market capitalization of $1.95 billion, a P/E ratio of 10.84, a PEG ratio of 4.88 and a beta of 0.56. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43. The company’s 50 day simple moving average is $20.42 and its 200-day simple moving average is $20.88.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. During the same period in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 77.7% compared to the same quarter last year. On average, equities analysts anticipate that Atlas Energy Solutions will post 1.86 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be issued a $0.23 dividend. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, August 15th. This represents a $0.92 annualized dividend and a dividend yield of 4.72%. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 51.11%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 3,248 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the acquisition, the insider now owns 7,503,197 shares of the company’s stock, valued at approximately $162,669,310.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Chad M. Mcever sold 100,000 shares of Atlas Energy Solutions stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the transaction, the insider now owns 451,755 shares in the company, valued at $11,090,585.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gregory M. Shepard purchased 3,248 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $21.68 per share, with a total value of $70,416.64. Following the acquisition, the insider now directly owns 7,503,197 shares of the company’s stock, valued at approximately $162,669,310.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 134,526 shares of company stock worth $2,611,884 and sold 163,093 shares worth $3,854,460. 24.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently bought and sold shares of AESI. First Horizon Advisors Inc. lifted its position in Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Atlas Energy Solutions during the second quarter worth approximately $74,000. DekaBank Deutsche Girozentrale acquired a new stake in Atlas Energy Solutions during the first quarter worth approximately $78,000. nVerses Capital LLC acquired a new stake in Atlas Energy Solutions during the second quarter worth approximately $106,000. Finally, Bessemer Group Inc. acquired a new stake in Atlas Energy Solutions during the first quarter worth approximately $154,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.