Barclays Cuts Atlas Energy Solutions (NYSE:AESI) Price Target to $19.00

Atlas Energy Solutions (NYSE:AESI) had its price objective cut by Barclays from $23.00 to $19.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. Citigroup lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Bank of America reiterated a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective for the company. Benchmark decreased their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, 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. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.39.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $17.49 on Monday. The firm has a 50 day simple moving average of $22.17 and a 200-day simple moving average of $21.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The firm has a market cap of $1.93 billion, a PE ratio of 22.14 and a beta of 1.03. Atlas Energy Solutions has a 1-year low of $17.02 and a 1-year high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. On average, equities analysts expect that Atlas Energy Solutions will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 5.72%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio is currently 178.57%.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total transaction of $193,276.05. Following the sale, the insider now owns 917,604 shares in the company, valued at $20,691,970.20. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $23.17, for a total value of $115,850.00. Following the sale, the insider now owns 409,510 shares in the company, valued at $9,488,346.70. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,571 shares of company stock valued at $1,473,876. Insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Stifel Financial Corp raised its stake in Atlas Energy Solutions by 28.6% during the third quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock valued at $2,761,000 after buying an additional 28,158 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Atlas Energy Solutions during the 4th quarter worth approximately $650,000. Hodges Capital Management Inc. raised its position in shares of Atlas Energy Solutions by 44.7% during the 4th quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company’s stock worth $4,302,000 after purchasing an additional 59,940 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Atlas Energy Solutions by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after purchasing an additional 25,999 shares during the period. Finally, Copeland Capital Management LLC raised its position in shares of Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after purchasing an additional 363,742 shares during the period. Institutional investors and hedge funds 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.