Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $207,000.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction on Monday, November 18th. The stock was sold at an average price of $20.70, for a total transaction of $207,000.00. Following the sale, the insider now owns 482,010 shares in the company, valued at $9,977,607. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Brian Anthony Leveille also recently made the following trade(s):

• On Wednesday, November 6th, Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.39, for a total transaction of $427,800.00.
• On Tuesday, October 29th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.02, for a total transaction of $210,200.00.
• On Monday, October 14th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $23.58 on Friday. The stock has a 50-day simple moving average of $21.04 and a 200 day simple moving average of $21.05. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 11.57 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, research analysts anticipate that Atlas Energy Solutions Inc. will post 0.8 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.07%. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after buying an additional 33,286 shares during the period. Sei Investments Co. grew its position in shares of Atlas Energy Solutions by 119.0% during the 1st quarter. Sei Investments Co. now owns 88,106 shares of the company’s stock worth $1,993,000 after buying an additional 47,882 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Atlas Energy Solutions during the 1st quarter worth about $8,728,000. Swiss National Bank acquired a new position in shares of Atlas Energy Solutions during the 1st quarter worth about $893,000. Finally, Clearbridge Investments LLC grew its position in shares of Atlas Energy Solutions by 38.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock worth $52,145,000 after buying an additional 636,785 shares during the period. 34.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AESI. Citigroup downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price objective 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 assigned a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

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.