Atlas Energy Solutions (NYSE:AESI) Shares Gap Up Following Dividend Announcement

Atlas Energy Solutions Inc. (NYSE:AESI) gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $20.02, but opened at $20.88. Atlas Energy Solutions shares last traded at $21.17, with a volume of 267,565 shares.

The newly announced dividend which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a $0.24 dividend. The ex-dividend date is Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AESI shares. Piper Sandler cut their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America reduced their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays reduced their target price on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Benchmark reissued a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.75.

Atlas Energy Solutions Stock Up 1.7 %

The stock has a market capitalization of $2.04 billion, a P/E ratio of 11.31, a PEG ratio of 6.47 and a beta of 0.56. The firm’s 50-day simple moving average is $21.00 and its 200 day simple moving average is $21.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The business’s revenue for the quarter was up 77.7% on a year-over-year basis. During the same period last year, the company posted $0.69 earnings per share. As a group, research analysts expect that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Insider Activity

In other news, major shareholder Gregory M. Shepard purchased 23,300 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $19.55 per share, with a total value of $455,515.00. Following the completion of the transaction, the insider now owns 7,540,306 shares of the company’s stock, valued at $147,412,982.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the transaction, the insider now directly owns 951,888 shares in the company, valued at approximately $19,247,175.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gregory M. Shepard purchased 23,300 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $19.55 per share, for a total transaction of $455,515.00. Following the purchase, the insider now owns 7,540,306 shares in the company, valued at $147,412,982.30. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 33,159 shares of company stock valued at $650,776 and sold 35,713 shares valued at $729,117. 24.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after buying an additional 33,286 shares during the period. Sei Investments Co. grew its position in shares of Atlas Energy Solutions by 119.0% in the first quarter. Sei Investments Co. now owns 88,106 shares of the company’s stock valued at $1,993,000 after purchasing an additional 47,882 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Atlas Energy Solutions during the first quarter worth approximately $592,000. Lazard Asset Management LLC acquired a new stake in Atlas Energy Solutions during the 1st quarter worth approximately $8,728,000. Finally, Capstone Investment Advisors LLC boosted its stake in Atlas Energy Solutions by 9.2% in the 1st quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock valued at $12,347,000 after purchasing an additional 45,859 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.