Atlas Energy Solutions (NYSE:AESI) Receives “Neutral” Rating from Bank of America

Bank of America reissued their neutral rating on shares of Atlas Energy Solutions (NYSE:AESI) in a research note released on Monday, Marketbeat reports. The brokerage currently has a $22.50 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Citigroup cut 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 $22.00 in a research note on Thursday, November 14th. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Finally, 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. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Atlas Energy Solutions Price Performance

AESI opened at $21.69 on Monday. Atlas Energy Solutions has a one year low of $15.55 and a one year 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. The company’s 50 day simple moving average is $22.15 and its 200-day simple moving average is $21.17. The stock has a market capitalization of $2.39 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 11.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly 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 net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same period last year, the company earned $0.51 earnings per share. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. Sell-side analysts anticipate that Atlas Energy Solutions 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. Investors of record on Thursday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.43%. 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 dividend payout ratio (DPR) is presently 121.52%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 1,797 shares of the stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the purchase, the insider now owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. This represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the sale, the insider now owns 404,510 shares in the company, valued at $9,303,730. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 119,642 shares worth $2,685,121. 24.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Atlas Energy Solutions by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock worth $53,740,000 after buying an additional 30,082 shares during the period. Copeland Capital Management LLC boosted its holdings in Atlas Energy Solutions by 19.8% in 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 during the period. State Street Corp boosted its holdings in Atlas Energy Solutions by 15.0% in the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after purchasing an additional 227,776 shares during the period. Geode Capital Management LLC boosted its holdings in Atlas Energy Solutions by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock valued at $31,579,000 after purchasing an additional 54,321 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in Atlas Energy Solutions by 25.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,085,729 shares of the company’s stock valued at $21,639,000 after purchasing an additional 222,890 shares during the period. Institutional investors own 34.59% of the company’s stock.

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.