Benchmark Reaffirms Buy Rating for Atlas Energy Solutions (NYSE:AESI)

Benchmark reiterated their buy rating on shares of Atlas Energy Solutions (NYSE:AESI) in a research note issued to investors on Tuesday, Benzinga reports. Benchmark currently has a $27.00 price target on the stock.

AESI has been the subject of several other research reports. Bank of America lowered their target price 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 raised their target price on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a buy rating in a report on Tuesday, May 28th. Tudor, Pickering, Holt & Co. began coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They issued a buy rating for the company. Tudor Pickering upgraded shares of Atlas Energy Solutions to a strong-buy rating in a report on Monday, June 24th. Finally, Piper Sandler decreased their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an overweight rating for the company in a report on Monday, July 15th. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $26.56.

Atlas Energy Solutions Price Performance

AESI traded down $0.45 during trading on Tuesday, hitting $19.51. 504,563 shares of the company traded hands, compared to its average volume of 914,551. The company has a market cap of $1.95 billion, a PE ratio of 10.84, a P/E/G ratio of 4.88 and a beta of 0.56. The stock’s 50-day simple moving average is $20.42 and its two-hundred day simple moving average is $20.88. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The company has a current ratio of 2.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.43.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. During the same quarter last year, the business earned $0.69 EPS. Atlas Energy Solutions’s revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 1.86 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.72%. The ex-dividend date is Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s payout ratio is presently 51.11%.

Insider Buying and Selling

In other news, major shareholder Chad M. Mcever sold 100,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the sale, the insider now owns 451,755 shares of the company’s stock, valued at $11,090,585.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Gregory M. Shepard acquired 60,393 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $19.05 per share, with a total value of $1,150,486.65. Following the completion of the acquisition, the insider now owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Chad M. Mcever sold 100,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the sale, the insider now directly owns 451,755 shares of the company’s stock, valued at approximately $11,090,585.25. The disclosure for this sale can be found here. In the last quarter, insiders purchased 134,526 shares of company stock valued at $2,611,884 and sold 163,093 shares valued at $3,854,460. 24.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds have recently modified their holdings of AESI. Whitebox Advisors LLC purchased a new stake in shares of Atlas Energy Solutions in the first quarter valued at about $49,712,000. Price T Rowe Associates Inc. MD lifted its position in Atlas Energy Solutions by 9,759.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock valued at $36,838,000 after buying an additional 1,611,968 shares during 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 buying an additional 1,504,988 shares during the last quarter. Meridian Wealth Advisors LLC acquired a new position in Atlas Energy Solutions in the fourth quarter valued at about $21,795,000. Finally, Goldman Sachs Group Inc. lifted its position in Atlas Energy Solutions by 127.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,136,136 shares of the company’s stock valued at $19,564,000 after buying an additional 637,249 shares during the last quarter. Hedge funds and other 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.