Atlas Energy Solutions (NYSE:AESI) Announces Quarterly Earnings Results

Atlas Energy Solutions (NYSE:AESI) posted its earnings results on Monday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12), Zacks reports. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%.

Atlas Energy Solutions Stock Performance

Shares of AESI traded up $0.01 during mid-day trading on Monday, reaching $20.64. 1,317,393 shares of the company’s stock were exchanged, compared to its average volume of 1,573,528. The business’s fifty day simple moving average is $22.56 and its 200-day simple moving average is $21.69. The stock has a market capitalization of $2.27 billion, a PE ratio of 26.12 and a beta of 1.03. Atlas Energy Solutions has a 52-week low of $17.49 and a 52-week high of $26.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, February 21st. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Raymond James downgraded shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company. Bank of America reaffirmed a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, Benchmark raised their target price on shares of Atlas Energy Solutions from $23.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the transaction, the insider now owns 917,604 shares in the company, valued at $20,691,970.20. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total value of $115,000.00. Following the sale, the insider now directly owns 404,510 shares of the company’s stock, valued at $9,303,730. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,071 shares of company stock worth $1,773,251 in the last 90 days. 24.34% of the stock is owned by insiders.

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.