Atlas Energy Solutions Inc. (NYSE:AESI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have received a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $25.17.

A number of brokerages recently commented on AESI. Royal Bank of Canada raised their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a report on Thursday, March 14th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays increased their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Raymond James boosted their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, CFO John Gregory Turner sold 3,728 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.58, for a total transaction of $84,178.24. Following the sale, the chief financial officer now owns 1,582,303 shares of the company’s stock, valued at $35,728,401.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO John Gregory Turner sold 3,728 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.58, for a total value of $84,178.24. Following the completion of the sale, the chief financial officer now directly owns 1,582,303 shares of the company’s stock, valued at approximately $35,728,401.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of the firm’s stock in a transaction that occurred 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 owns 970,738 shares in the company, valued at approximately $19,385,637.86. The disclosure for this sale can be found here. Insiders have sold 246,860 shares of company stock valued at $5,332,121 over the last quarter. 24.34% of the stock is owned by insiders.

Institutional Trading of Atlas Energy Solutions

A number of large investors have recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new position in Atlas Energy Solutions in the fourth quarter valued at $27,963,000. Indie Asset Partners LLC purchased a new position in shares of Atlas Energy Solutions during the third quarter worth about $6,483,000. Keeley Teton Advisors LLC acquired a new position in Atlas Energy Solutions in the 3rd quarter valued at about $3,045,000. Jacobs Levy Equity Management Inc. lifted its position in Atlas Energy Solutions by 1,065.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 581,134 shares of the company’s stock worth $12,919,000 after acquiring an additional 531,261 shares during the period. Finally, Wealthsource Partners LLC purchased a new position in Atlas Energy Solutions during the 4th quarter worth $172,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $22.28 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.21 and a current ratio of 3.44. The firm has a market cap of $2.23 billion and a P/E ratio of 14.19. The firm’s 50 day moving average price is $21.08 and its 200-day moving average price is $18.91. Atlas Energy Solutions has a one year low of $15.28 and a one year high of $24.69.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a net margin of 17.17% and a return on equity of 47.40%. The firm had revenue of $141.14 million during the quarter, compared to analysts’ expectations of $147.34 million. As a group, equities research analysts predict that Atlas Energy Solutions will post 2.92 EPS 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.77%. The ex-dividend date was Wednesday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.20. Atlas Energy Solutions’s payout ratio is 40.76%.

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.