Atlas Energy Solutions (NYSE:AESI) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Atlas Energy Solutions (NYSE:AESI) in a report issued on Wednesday,Benzinga reports. The firm currently has a $25.00 price target on the stock.

Several other equities analysts have also recently issued reports on AESI. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Bank of America reaffirmed a “neutral” rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective for the company. Stephens raised their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Finally, Barclays lowered their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $18.45 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a one year low of $16.98 and a one year high of $26.86. The stock’s 50 day moving average price is $20.13 and its 200 day moving average price is $21.27. The firm has a market capitalization of $2.25 billion, a PE ratio of 23.35 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI) last posted 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 analysts’ expectations of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, sell-side analysts expect that Atlas Energy Solutions will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm 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 represents a $1.00 dividend on an annualized basis and a dividend yield of 5.42%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 21st. Atlas Energy Solutions’s dividend payout ratio (DPR) is 178.57%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard acquired 32,155 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now directly owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. The trade was a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.88, for a total value of $119,400.00. Following the completion of the sale, the insider now owns 382,010 shares of the company’s stock, valued at $9,122,398.80. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock worth $1,049,750 over the last ninety days. 24.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in Atlas Energy Solutions during the fourth quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Atlas Energy Solutions by 62.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Atlas Energy Solutions by 307.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after purchasing an additional 1,047 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Atlas Energy Solutions by 191.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Promus Capital LLC acquired a new stake in Atlas Energy Solutions during the fourth quarter valued at approximately $55,000. Institutional investors own 34.59% of the company’s stock.

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.