Atlas Energy Solutions (NYSE:AESI) Price Target Raised to $27.00

Atlas Energy Solutions (NYSE:AESI) had its price objective increased by Raymond James from $26.00 to $27.00 in a research note published on Tuesday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Barclays lifted their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an overweight rating in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research note on Thursday, March 14th. They set a buy rating and a $24.00 price target for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $25.17.

Atlas Energy Solutions Stock Down 0.2 %

Shares of NYSE AESI opened at $21.92 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.44 and a quick ratio of 3.21. The company has a market cap of $2.19 billion and a P/E ratio of 13.96. Atlas Energy Solutions has a 1 year low of $15.28 and a 1 year high of $24.69. The firm has a 50-day simple moving average of $20.89 and a two-hundred day simple moving average of $18.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). The firm had revenue of $141.14 million during the quarter, compared to the consensus estimate of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. Research analysts anticipate that Atlas Energy Solutions will post 2.92 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were issued a $0.21 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, February 21st. Atlas Energy Solutions’s payout ratio is currently 40.76%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the transaction, the insider now directly owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the transaction, the insider now directly owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Richard W. Schmidt sold 166,710 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $21.94, for a total value of $3,657,617.40. Following the completion of the transaction, the insider now directly owns 1,140,596 shares in the company, valued at $25,024,676.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,860 shares of company stock valued at $5,332,121. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Atlas Energy Solutions by 180.5% during the 4th quarter. Vanguard Group Inc. now owns 4,582,507 shares of the company’s stock worth $78,911,000 after purchasing an additional 2,948,611 shares during the period. Villere ST Denis J & Co. LLC grew its position in Atlas Energy Solutions by 258.0% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 1,813,539 shares of the company’s stock worth $31,229,000 after purchasing an additional 1,306,900 shares during the period. Venturi Wealth Management LLC acquired a new stake in Atlas Energy Solutions during the 4th quarter worth about $27,963,000. Meridian Wealth Advisors LLC purchased a new stake in shares of Atlas Energy Solutions during the 4th quarter worth about $21,795,000. Finally, BlackRock Inc. boosted its stake in shares of Atlas Energy Solutions by 532.0% during the 2nd quarter. BlackRock Inc. now owns 1,263,197 shares of the company’s stock worth $21,929,000 after acquiring an additional 1,063,316 shares in the last quarter. 34.59% of the stock is 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.