Atlas Energy Solutions (NYSE:AESI) Price Target Raised to $27.00

Atlas Energy Solutions (NYSE:AESI) had its target price lifted by Raymond James from $26.00 to $27.00 in a report issued on Tuesday, Benzinga reports. They currently have a strong-buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research report on Thursday, March 14th. They issued a buy rating and a $24.00 price target for the company. Barclays lifted their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an overweight rating in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Atlas Energy Solutions currently has a consensus rating of Buy and an average price target of $25.17.

Atlas Energy Solutions Price Performance

Shares of AESI opened at $21.92 on Tuesday. Atlas Energy Solutions has a 1-year low of $15.28 and a 1-year high of $24.69. The stock has a market cap of $2.19 billion and a PE ratio of 13.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.44 and a quick ratio of 3.21. The firm has a fifty day moving average price of $20.89 and a 200 day moving average price of $18.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a net margin of 17.17% and a return on equity of 47.40%. The company had revenue of $141.14 million during the quarter, compared to analysts’ expectations of $147.34 million. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 2.92 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.83%. Atlas Energy Solutions’s payout ratio is currently 40.76%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 50,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the transaction, the insider now directly owns 970,738 shares in the company, valued at $19,385,637.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Richard W. Schmidt sold 166,710 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $21.94, for a total transaction of $3,657,617.40. Following the transaction, the insider now directly owns 1,140,596 shares in the company, valued at $25,024,676.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 50,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the transaction, the insider now owns 970,738 shares in the company, valued at $19,385,637.86. The disclosure for this sale can be found here. Insiders have sold a total of 246,860 shares of company stock worth $5,332,121 over the last ninety days. 24.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AESI. Barclays PLC acquired a new position in Atlas Energy Solutions during the first quarter worth about $208,000. Tower Research Capital LLC TRC acquired a new position in Atlas Energy Solutions during the first quarter worth about $68,000. Citigroup Inc. acquired a new position in Atlas Energy Solutions during the first quarter worth about $123,000. Sei Investments Co. acquired a new position in Atlas Energy Solutions during the first quarter worth about $674,000. Finally, HRT Financial LP acquired a new position in Atlas Energy Solutions during the first quarter worth about $937,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.