Atlas Energy Solutions (NYSE:AESI) Cut to “Neutral” at Citigroup

Citigroup cut shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a research report report published on Thursday, MarketBeat Ratings reports. They currently have $22.00 price target on the stock, down from their previous price target of $23.00.

Other equities research analysts have also issued research reports about the company. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Atlas Energy Solutions Trading Down 1.5 %

AESI stock opened at $19.95 on Thursday. The company has a market capitalization of $2.20 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 11.68 and a beta of 0.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The company’s 50 day moving average price is $20.94 and its two-hundred day moving average price is $21.06.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the previous year, the business earned $0.51 EPS. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. As a group, analysts predict that Atlas Energy Solutions will post 0.8 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.81%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Buying and Selling

In related news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $21.12, for a total value of $181,019.52. Following the sale, the insider now directly owns 926,175 shares of the company’s stock, valued at $19,560,816. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Brian Anthony Leveille sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $21.39, for a total value of $427,800.00. Following the transaction, the insider now directly owns 512,010 shares of the company’s stock, valued at $10,951,893.90. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 60,869 shares of company stock valued at $1,187,983 and sold 74,284 shares valued at $1,548,136. 24.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently bought and sold shares of AESI. First Horizon Advisors Inc. increased its stake in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares in the last quarter. Amalgamated Bank grew its stake in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares during the last quarter. Quest Partners LLC bought a new position in Atlas Energy Solutions during the 3rd quarter valued at approximately $48,000. FMR LLC raised its stake in Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after buying an additional 1,355 shares during the last quarter. Finally, CWM LLC boosted its holdings in Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after acquiring an additional 886 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

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.