Atlas Energy Solutions Inc. (NYSE:AESI) Given Consensus Recommendation of “Buy” by Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has earned an average recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.00.

AESI has been the topic of several recent research reports. Barclays increased their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Tudor, Pickering, Holt & Co. initiated coverage on shares of Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating on the stock. The Goldman Sachs Group increased their price objective on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Tudor Pickering upgraded shares of Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Benchmark initiated coverage on shares of Atlas Energy Solutions in a research note on Thursday, May 23rd. They issued a “buy” rating and a $27.00 price objective on the stock.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI opened at $20.04 on Tuesday. The firm’s 50-day moving average price is $22.05 and its 200-day moving average price is $20.21. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.00 billion, a PE ratio of 11.13, a PEG ratio of 2.89 and a beta of 0.59. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). The company had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $196.39 million. Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. As a group, analysts anticipate that Atlas Energy Solutions will post 2.02 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were paid a dividend of $0.22 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 4.39%. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 35.56%.

Insiders Place Their Bets

In related news, major shareholder Gregory M. Shepard acquired 40,872 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $19.64 per share, for a total transaction of $802,726.08. Following the completion of the transaction, the insider now directly owns 7,445,069 shares in the company, valued at approximately $146,221,155.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Gregory M. Shepard acquired 40,872 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $19.64 per share, for a total transaction of $802,726.08. Following the completion of the transaction, the insider now directly owns 7,445,069 shares in the company, valued at approximately $146,221,155.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Chad M. Mcever sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the transaction, the insider now directly owns 451,755 shares of the company’s stock, valued at $11,090,585.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,672 shares of company stock worth $4,859,410. Company insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Atlas Energy Solutions in the first quarter valued at $78,000. Boston Partners boosted its stake in Atlas Energy Solutions by 33.1% during the first quarter. Boston Partners now owns 39,033 shares of the company’s stock worth $883,000 after buying an additional 9,697 shares during the period. Cetera Investment Advisers purchased a new position in Atlas Energy Solutions during the first quarter worth $1,985,000. California State Teachers Retirement System boosted its stake in Atlas Energy Solutions by 575.2% during the first quarter. California State Teachers Retirement System now owns 19,784 shares of the company’s stock worth $448,000 after buying an additional 16,854 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Atlas Energy Solutions by 26.9% during the first quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock worth $57,392,000 after buying an additional 537,927 shares during the period. 34.59% of the stock is owned by hedge funds and other 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.