Gregory M. Shepard Purchases 14,347 Shares of Atlas Energy Solutions Inc. (NYSE:AESI) Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 14,347 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were acquired at an average cost of $19.57 per share, with a total value of $280,770.79. Following the acquisition, the insider now directly owns 7,554,653 shares in the company, valued at approximately $147,844,559.21. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Up 1.1 %

Shares of NYSE AESI opened at $20.19 on Wednesday. Atlas Energy Solutions Inc. has a 52 week low of $15.55 and a 52 week high of $24.93. The stock’s fifty day moving average is $20.89 and its 200 day moving average is $21.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The stock has a market capitalization of $2.22 billion, a P/E ratio of 25.55, a PEG ratio of 10.60 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last issued its 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 net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year. Sell-side analysts forecast that Atlas Energy Solutions Inc. will post 0.8 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.76%. Atlas Energy Solutions’s dividend payout ratio is presently 116.46%.

Analysts Set New Price Targets

AESI has been the subject of a number of research reports. The Goldman Sachs Group cut 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 research note on Thursday, August 29th. Benchmark restated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Piper Sandler decreased their target price on 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. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Barclays decreased their price objective on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $25.75.

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% in the second 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 in the last quarter. Amalgamated Bank grew its holdings 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 purchasing an additional 1,801 shares during the last quarter. CWM LLC grew its holdings 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 purchasing an additional 886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Atlas Energy Solutions during the 2nd quarter worth approximately $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Atlas Energy Solutions in the first quarter valued at approximately $78,000. Institutional investors 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.