Atlas Energy Solutions Inc. (NYSE:AESI) Declares Quarterly Dividend of $0.22

Atlas Energy Solutions Inc. (NYSE:AESI) declared a quarterly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.22 per share on Thursday, May 23rd. This represents a $0.88 annualized dividend and a yield of 3.95%. The ex-dividend date is Wednesday, May 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.21.

Atlas Energy Solutions has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atlas Energy Solutions to earn $4.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 20.3%.

Atlas Energy Solutions Stock Down 2.9 %

NYSE AESI traded down $0.66 on Tuesday, reaching $22.26. The company had a trading volume of 95,075 shares, compared to its average volume of 755,314. The company’s fifty day moving average is $21.99 and its 200-day moving average is $19.05. Atlas Energy Solutions has a 1-year low of $15.28 and a 1-year high of $24.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.21 and a current ratio of 3.44. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.54 and a beta of 0.66.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). The firm had revenue of $141.14 million during the quarter, compared to the consensus estimate of $147.34 million. Atlas Energy Solutions had a net margin of 17.17% and a return on equity of 47.40%. On average, research analysts forecast that Atlas Energy Solutions will post 2.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on AESI shares. Royal Bank of Canada upped their target price on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research note on Thursday, March 14th. They issued a “buy” rating and a $24.00 target price on the stock. Raymond James raised their target price on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Finally, Barclays raised their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Buy” and an average target price of $25.17.

Insider Buying and Selling

In related news, major shareholder Richard W. Schmidt sold 166,710 shares of Atlas Energy Solutions stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $21.94, for a total transaction of $3,657,617.40. Following the completion of the sale, the insider now owns 1,140,596 shares in the company, valued at approximately $25,024,676.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 166,710 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $21.94, for a total value of $3,657,617.40. Following the sale, the insider now directly owns 1,140,596 shares of the company’s stock, valued at approximately $25,024,676.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John Gregory Turner sold 3,728 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.58, for a total value of $84,178.24. Following the completion of the sale, the chief financial officer now directly owns 1,582,303 shares in the company, valued at $35,728,401.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,860 shares of company stock worth $5,332,121. 24.34% of the stock is owned by corporate insiders.

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.