Fmr LLC Grows Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Fmr LLC raised its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 101.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,696 shares of the company’s stock after acquiring an additional 1,355 shares during the quarter. Fmr LLC’s holdings in Atlas Energy Solutions were worth $59,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AESI. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Atlas Energy Solutions by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock valued at $53,740,000 after purchasing an additional 30,082 shares during the last quarter. Meridian Wealth Advisors LLC grew its position in shares of Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares during the last quarter. Copeland Capital Management LLC raised its stake in Atlas Energy Solutions by 19.8% during the 3rd quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock worth $41,072,000 after acquiring an additional 311,228 shares in the last quarter. Cooke & Bieler LP lifted its position in Atlas Energy Solutions by 775.7% in the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock valued at $33,861,000 after acquiring an additional 1,504,988 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Atlas Energy Solutions by 13.9% in the second quarter. Victory Capital Management Inc. now owns 1,622,241 shares of the company’s stock valued at $32,331,000 after acquiring an additional 197,783 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Insider Buying and Selling at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the completion of the transaction, the insider now directly owns 917,604 shares of the company’s stock, valued at approximately $20,691,970.20. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Brian Anthony Leveille sold 30,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.02, for a total transaction of $720,600.00. Following the sale, the insider now owns 432,010 shares of the company’s stock, valued at approximately $10,376,880.20. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 133,213 shares valued at $2,959,311. 24.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AESI has been the topic of a number of research analyst reports. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Atlas Energy Solutions Stock Up 2.3 %

Shares of NYSE:AESI opened at $22.22 on Wednesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 11.53 and a beta of 0.96. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The firm’s 50-day simple moving average is $21.54 and its 200-day simple moving average is $20.97. 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 (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. As a group, equities research analysts predict that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.24 dividend. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. This represents a $0.96 annualized dividend and a yield of 4.32%. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

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.