Atlas Energy Solutions (NYSE:AESI) Given Outperform Rating at Royal Bank of Canada

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

AESI has been the topic of several other research reports. Barclays cut their price objective on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Finally, Bank of America dropped their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.75.

Atlas Energy Solutions Price Performance

AESI stock opened at $19.82 on Wednesday. The company has a market capitalization of $2.18 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The business has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $21.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same period in the prior year, the firm earned $0.51 earnings per share. Atlas Energy Solutions’s revenue was up 93.1% compared to the same quarter last year. Research analysts expect that Atlas Energy Solutions will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.24 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Thursday, November 7th. Atlas Energy Solutions’s payout ratio is 116.46%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard purchased 23,300 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $19.55 per share, with a total value of $455,515.00. Following the acquisition, the insider now directly owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 23,300 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $19.55 per share, for a total transaction of $455,515.00. Following the acquisition, the insider now owns 7,540,306 shares in the company, valued at $147,412,982.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the sale, the insider now directly owns 951,888 shares of the company’s stock, valued at approximately $19,247,175.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 33,159 shares of company stock valued at $650,776 and sold 35,713 shares valued at $729,117. 24.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in AESI. Whitebox Advisors LLC bought a new stake in Atlas Energy Solutions in the first quarter worth $49,712,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Atlas Energy Solutions by 9,759.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock worth $36,838,000 after buying an additional 1,611,968 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Atlas Energy Solutions by 775.7% in the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after acquiring an additional 1,504,988 shares during the period. 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 worth $52,145,000 after acquiring an additional 636,785 shares during the period. Finally, Meridian Wealth Advisors LLC lifted its position in Atlas Energy Solutions by 25.8% during the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after purchasing an additional 548,620 shares in the last quarter. Institutional investors 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.