Atlas Energy Solutions (NYSE:AESI) Price Target Lowered to $19.00 at Barclays

Atlas Energy Solutions (NYSE:AESI) had its price objective cut by Barclays from $23.00 to $19.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

AESI has been the topic of several other research reports. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target on the stock. Royal Bank of Canada dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Benchmark dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.39.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI opened at $18.04 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $22.33 and a 200-day simple moving average of $21.69. The company has a market cap of $1.99 billion, a PE ratio of 22.84 and a beta of 1.03. Atlas Energy Solutions has a 12-month low of $17.49 and a 12-month high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The business had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. On average, equities research analysts forecast that Atlas Energy Solutions will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were issued a dividend of $0.25 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Friday, February 21st. Atlas Energy Solutions’s payout ratio is currently 178.57%.

Insider Activity

In related news, major shareholder Gregory M. Shepard purchased 32,155 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the acquisition, the insider now directly owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. The trade was a 0.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.17, for a total transaction of $115,850.00. Following the transaction, the insider now owns 409,510 shares in the company, valued at approximately $9,488,346.70. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,571 shares of company stock worth $1,473,876 in the last ninety days. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Atlas Energy Solutions by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company’s stock worth $153,382,000 after purchasing an additional 773,035 shares in the last quarter. First Trust Advisors LP boosted its holdings in Atlas Energy Solutions by 31.5% in the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company’s stock worth $86,697,000 after purchasing an additional 935,410 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Atlas Energy Solutions by 25.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company’s stock worth $75,197,000 after purchasing an additional 689,846 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in Atlas Energy Solutions by 19.3% in the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after purchasing an additional 363,742 shares in the last quarter. Finally, State Street Corp boosted its holdings in Atlas Energy Solutions by 15.0% in the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after purchasing an additional 227,776 shares in the last quarter. 34.59% of the stock is currently owned by 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.