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

Citigroup downgraded shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat.com reports. Citigroup currently has $22.00 price objective on the stock, down from their prior price objective of $23.00.

A number of other research analysts also recently issued reports on the company. Benchmark restated a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. The Goldman Sachs Group downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Finally, Stephens reiterated an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Four investment 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’s stock. According to data from MarketBeat, Atlas Energy Solutions has an average rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $19.95 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a fifty day moving average price of $20.94 and a 200-day moving average price of $21.06. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 11.68 and a beta of 0.69.

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 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 firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was up 93.1% on a year-over-year basis. As a group, equities research analysts predict that Atlas Energy Solutions will post 0.8 EPS 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. Investors of record on Thursday, November 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.81%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is presently 121.52%.

Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard bought 13,363 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $19.19 per share, with a total value of $256,435.97. Following the acquisition, the insider now owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. The trade was a 0.18 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction 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 directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 60,869 shares of company stock worth $1,187,983 and sold 74,284 shares worth $1,548,136. 24.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $979,000 after purchasing an additional 711 shares in the last quarter. Beck Capital Management LLC lifted its position in Atlas Energy Solutions by 0.6% during the second quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock valued at $2,603,000 after purchasing an additional 749 shares during the last quarter. 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 worth $60,000 after buying an additional 886 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Atlas Energy Solutions by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after buying an additional 897 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors.

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.