HITE Hedge Asset Management LLC Increases Stock Position in Atlas Energy Solutions Inc. (NYSE:AESI)

HITE Hedge Asset Management LLC lifted its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 158,023 shares of the company’s stock after purchasing an additional 4,294 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Atlas Energy Solutions were worth $3,445,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AESI. Beck Capital Management LLC increased its stake in shares of Atlas Energy Solutions by 2.7% during the 3rd quarter. Beck Capital Management LLC now owns 134,144 shares of the company’s stock worth $2,924,000 after purchasing an additional 3,556 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Atlas Energy Solutions by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after purchasing an additional 711 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Atlas Energy Solutions by 55.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock worth $125,000 after purchasing an additional 2,043 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Atlas Energy Solutions in the 3rd quarter worth $274,000. Finally, BNP Paribas Financial Markets increased its position in Atlas Energy Solutions by 69.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,438 shares of the company’s stock valued at $751,000 after purchasing an additional 14,093 shares during the period. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Stock Down 0.6 %

Shares of NYSE:AESI opened at $23.44 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average price is $21.26 and its 200 day moving average price is $21.05. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 11.92 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s revenue was up 93.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, equities research analysts predict that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is 121.52%.

Insiders Place Their Bets

In related news, major shareholder Gregory M. Shepard bought 1,797 shares of the company’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the acquisition, the insider now owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This represents a 0.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 60,869 shares of company stock valued at $1,187,983 and have sold 115,713 shares valued at $2,517,431. Company insiders own 24.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AESI shares. Benchmark reaffirmed a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Finally, Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

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.