HITE Hedge Asset Management LLC Purchases 4,294 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

HITE Hedge Asset Management LLC boosted its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The firm 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Atlas Energy Solutions by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock valued at $53,740,000 after purchasing an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC grew its stake in Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after acquiring an additional 548,620 shares during the period. Copeland Capital Management LLC raised its holdings in shares of Atlas Energy Solutions by 19.8% during the 3rd quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock worth $41,072,000 after acquiring an additional 311,228 shares during the period. Cooke & Bieler LP raised its holdings in shares of Atlas Energy Solutions by 775.7% in the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock valued at $33,861,000 after purchasing an additional 1,504,988 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Atlas Energy Solutions by 13.9% in the second quarter. Victory Capital Management Inc. now owns 1,622,241 shares of the company’s stock worth $32,331,000 after purchasing an additional 197,783 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total transaction of $184,190.79. Following the completion of the sale, the insider now owns 934,746 shares in the company, valued at $20,087,691.54. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Brian Anthony Leveille sold 30,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.02, for a total value of $720,600.00. Following the sale, the insider now owns 432,010 shares in the company, valued at approximately $10,376,880.20. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 115,713 shares worth $2,517,431. Insiders own 24.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AESI. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Finally, Benchmark restated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and an average price target of $24.44.

Atlas Energy Solutions Trading Down 0.6 %

Shares of AESI opened at $23.44 on Tuesday. The stock has a market cap of $2.58 billion, a PE ratio of 29.67, a PEG ratio of 11.92 and a beta of 0.69. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $21.05. Atlas Energy Solutions Inc. has a 1 year low of $15.55 and a 1 year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (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 company had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same quarter last year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 93.1% on a year-over-year basis. On average, sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

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

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.