JPMorgan Chase & Co. Has $4.24 Million Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

JPMorgan Chase & Co. raised its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 324.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,494 shares of the company’s stock after acquiring an additional 148,655 shares during the period. JPMorgan Chase & Co. owned about 0.18% of Atlas Energy Solutions worth $4,240,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AESI. Amalgamated Bank increased its holdings in shares of Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. Quest Partners LLC bought a new stake in Atlas Energy Solutions during the 3rd quarter worth $48,000. FMR LLC increased its holdings in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares in the last quarter. CWM LLC increased its holdings 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 purchasing an additional 886 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Atlas Energy Solutions by 54.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock valued at $107,000 after purchasing an additional 1,860 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Brian Anthony Leveille sold 7,500 shares of Atlas Energy Solutions stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $24.00, for a total value of $180,000.00. Following the completion of the sale, the insider now owns 397,010 shares of the company’s stock, valued at approximately $9,528,240. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard acquired 23,300 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $19.55 per share, for a total transaction of $455,515.00. Following the acquisition, the insider now owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. The trade was a 0.31 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 59,072 shares of company stock valued at $1,152,672 and have sold 137,142 shares valued at $3,084,721. 24.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

AESI has been the topic of several research reports. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target on the stock. Bank of America restated a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $24.20 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 52 week low of $16.15 and a 52 week high of $25.38. The firm has a 50 day moving average of $22.44 and a 200-day moving average of $21.27. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 5.55 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results 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 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 analyst estimates of $307.93 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. On average, equities analysts forecast that Atlas Energy Solutions Inc. will post 0.87 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.97%. 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%.

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.