Atlas Energy Solutions (NYSE:AESI) Downgraded to “Neutral” Rating by Citigroup

Citigroup cut shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat reports. The firm currently has $22.00 target price on the stock, down from their prior target price of $23.00.

AESI has been the subject of a number of other reports. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. The Goldman Sachs Group downgraded 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 $21.00 in a research note on Thursday, November 7th. Stephens restated an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Barclays downgraded shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $23.00 to $19.00 in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.44.

Atlas Energy Solutions Stock Performance

NYSE:AESI traded down $0.30 during trading hours on Thursday, hitting $19.95. 394,446 shares of the company traded hands, compared to its average volume of 892,603. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 11.68 and a beta of 0.69. 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 firm has a 50-day moving average of $20.94 and a 200 day moving average of $21.09.

Atlas Energy Solutions (NYSE:AESI) last announced 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). The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. On average, analysts forecast that Atlas Energy Solutions will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.81%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

Insider Activity

In related news, major shareholder Gregory M. Shepard acquired 1,797 shares of the stock in a transaction dated Friday, October 18th. The shares were purchased at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the transaction, the insider now owns 7,507,194 shares in the company, valued at $147,516,362.10. This represents a 0.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 65,713 shares worth $1,367,117. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Atlas Energy Solutions in the third quarter worth approximately $253,000. HITE Hedge Asset Management LLC raised its stake in Atlas Energy Solutions by 2.8% during the third quarter. HITE Hedge Asset Management LLC now owns 158,023 shares of the company’s stock valued at $3,445,000 after purchasing an additional 4,294 shares in the last quarter. Beck Capital Management LLC increased its position in Atlas Energy Solutions by 2.7% during the third quarter. Beck Capital Management LLC now owns 134,144 shares of the company’s stock valued at $2,924,000 after acquiring an additional 3,556 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Atlas Energy Solutions by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after buying an additional 711 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Atlas Energy Solutions by 55.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock valued at $125,000 after purchasing an additional 2,043 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.