Atlas Energy Solutions (NYSE:AESI) Price Target Lowered to $25.00 at Royal Bank of Canada

Atlas Energy Solutions (NYSE:AESI) had its price target cut by Royal Bank of Canada from $26.00 to $25.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a buy rating on the stock in a report on Thursday, August 29th. Stephens restated an overweight rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Tudor, Pickering, Holt & Co. began coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They set a buy rating for the company. Tudor Pickering upgraded Atlas Energy Solutions to a strong-buy rating in a research note on Monday, June 24th. Finally, Bank of America decreased their target price 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. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $26.13.

Atlas Energy Solutions Stock Down 0.7 %

Atlas Energy Solutions stock opened at $20.44 on Friday. The company has a market capitalization of $2.25 billion, a PE ratio of 16.22, a PEG ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 12-month low of $15.55 and a 12-month high of $24.93. The firm’s fifty day moving average is $20.89 and its 200 day moving average is $21.51. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last issued its 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). The firm had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. Atlas Energy Solutions’s revenue for the quarter was up 77.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, sell-side analysts predict that Atlas Energy Solutions will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.23 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s dividend payout ratio is presently 73.02%.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard bought 3,248 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the purchase, the insider now directly owns 7,503,197 shares of the company’s stock, valued at approximately $162,669,310.96. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Gregory M. Shepard purchased 3,248 shares of the stock in a transaction dated Thursday, July 18th. The shares were purchased at an average cost of $21.68 per share, with a total value of $70,416.64. Following the completion of the purchase, the insider now directly owns 7,503,197 shares of the company’s stock, valued at approximately $162,669,310.96. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 25,713 shares of company stock valued at $524,117. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently modified their holdings of AESI. First Horizon Advisors Inc. boosted its stake 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 buying an additional 1,308 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Atlas Energy Solutions by 328.1% in the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the period. CWM LLC increased its position in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Atlas Energy Solutions during the second quarter worth about $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Atlas Energy Solutions in the 1st quarter valued at about $78,000. 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.