Atlas Energy Solutions Inc. (NYSE:AESI) Given Consensus Recommendation of “Buy” by Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has been given an average recommendation of “Buy” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

Several equities analysts recently issued reports on the company. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Benchmark assumed coverage on Atlas Energy Solutions in a research note on Thursday, May 23rd. They issued a “buy” rating and a $27.00 target price for the company. Raymond James raised their target price on Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Tudor, Pickering, Holt & Co. assumed coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group raised their target price on Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

Atlas Energy Solutions Stock Down 1.6 %

Shares of AESI stock opened at $20.13 on Tuesday. The stock’s fifty day moving average price is $21.76 and its 200 day moving average price is $20.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05. Atlas Energy Solutions has a 1-year low of $15.55 and a 1-year high of $24.93. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.12). The company had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, research analysts expect that Atlas Energy Solutions will post 2.02 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.37%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 15th. Atlas Energy Solutions’s payout ratio is presently 35.56%.

Insider Buying and Selling

In related news, major shareholder Chad M. Mcever sold 100,000 shares of Atlas Energy Solutions stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $24.55, for a total value of $2,455,000.00. Following the sale, the insider now directly owns 451,755 shares in the company, valued at approximately $11,090,585.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Atlas Energy Solutions news, major shareholder Chad M. Mcever sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total value of $2,455,000.00. Following the transaction, the insider now directly owns 451,755 shares of the company’s stock, valued at approximately $11,090,585.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Richard W. Schmidt sold 51,150 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $22.98, for a total transaction of $1,175,427.00. Following the completion of the transaction, the insider now directly owns 1,051,663 shares in the company, valued at $24,167,215.74. The disclosure for this sale can be found here. In the last three months, insiders have bought 131,278 shares of company stock worth $2,541,468 and have sold 205,672 shares worth $4,859,410. 24.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock valued at $104,409,000 after buying an additional 33,286 shares during the period. Janus Henderson Group PLC raised its position in Atlas Energy Solutions by 26.9% in the first quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock valued at $57,392,000 after purchasing an additional 537,927 shares during the period. Whitebox Advisors LLC purchased a new stake in Atlas Energy Solutions in the first quarter valued at approximately $49,712,000. Clearbridge Investments LLC raised its position in Atlas Energy Solutions by 38.2% in the first quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock valued at $52,145,000 after purchasing an additional 636,785 shares during the period. Finally, Villere ST Denis J & Co. LLC raised its position in Atlas Energy Solutions by 0.7% in the first quarter. Villere ST Denis J & Co. LLC now owns 1,825,839 shares of the company’s stock valued at $41,300,000 after purchasing an additional 12,300 shares during the period. 34.59% of the stock is owned by hedge funds and other 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.