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

HITE Hedge Asset Management LLC grew its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 owned approximately 0.14% of Atlas Energy Solutions worth $3,445,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its position 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 buying an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC increased its stake in shares of Atlas Energy Solutions by 25.8% in the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares in the last quarter. Copeland Capital Management LLC lifted 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 valued at $41,072,000 after purchasing an additional 311,228 shares in the last quarter. Cooke & Bieler LP boosted its stake in Atlas Energy Solutions by 775.7% in the 2nd 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 period. Finally, Victory Capital Management Inc. increased its holdings in shares of Atlas Energy Solutions by 13.9% during the second quarter. Victory Capital Management Inc. now owns 1,622,241 shares of the company’s stock worth $32,331,000 after buying an additional 197,783 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,338,082.48. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of the company’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the purchase, the insider now owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. This trade represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 115,713 shares valued at $2,517,431. 24.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AESI. Stephens reaffirmed an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. 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. Based on data from MarketBeat.com, Atlas Energy Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Down 0.6 %

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

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same period last year, the firm posted $0.51 EPS. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year. Research analysts expect that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

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

Atlas Energy Solutions 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.