Atlas Energy Solutions (NYSE:AESI) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a report published on Friday morning. The firm issued a neutral rating and a $23.00 target price on the stock.

A number of other brokerages also recently issued reports on AESI. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Finally, Barclays downgraded shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $23.16 on Friday. The stock has a market capitalization of $2.55 billion, a PE ratio of 29.32, a PEG ratio of 11.53 and a beta of 0.96. The business’s 50 day simple moving average is $21.42 and its 200 day simple moving average is $21.04. 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 has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data 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 net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same period in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. As a group, research analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current 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 $0.24 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.95, for a total transaction of $299,375.00. Following the sale, the insider now directly owns 419,510 shares in the company, valued at approximately $10,047,264.50. This trade represents a 2.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of Atlas Energy Solutions stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $19.65 per share, with a total value of $35,311.05. Following the purchase, the insider now directly owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 119,642 shares worth $2,650,185. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 last quarter. Beck Capital Management LLC boosted its holdings in Atlas Energy Solutions by 0.6% in the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after buying an additional 749 shares during the period. CWM LLC grew its stake in Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after buying an additional 886 shares in the last quarter. Cetera Investment Advisers raised its holdings in Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after acquiring an additional 897 shares during the period. Finally, First Horizon Advisors Inc. lifted its position 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 worth $34,000 after acquiring an additional 1,308 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

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.