Atlas Energy Solutions Inc. (AESI) to Issue Dividend of $0.24 on November 14th

Atlas Energy Solutions Inc. (NYSE:AESI) announced a dividend on Monday, October 28th, NASDAQ reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.24 per share on Thursday, November 14th. The ex-dividend date of this dividend is Thursday, November 7th.

Atlas Energy Solutions has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Atlas Energy Solutions to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 33.1%.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $20.37 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2.04 billion, a PE ratio of 11.31, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 12-month low of $15.55 and a 12-month high of $24.93. The business’s 50-day moving average price is $21.00 and its two-hundred day moving average price is $21.24.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. During the same quarter in the prior year, the company earned $0.69 earnings per share. Atlas Energy Solutions’s revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, analysts expect that Atlas Energy Solutions will post 1.48 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Gregory M. Shepard bought 23,300 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the acquisition, the insider now directly owns 7,540,306 shares in the company, valued at approximately $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Gregory M. Shepard bought 8,062 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were bought at an average price of $19.84 per share, for a total transaction of $159,950.08. Following the transaction, the insider now directly owns 7,515,256 shares of the company’s stock, valued at approximately $149,102,679.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard bought 23,300 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the purchase, the insider now owns 7,540,306 shares of the company’s stock, valued at $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 33,159 shares of company stock valued at $650,776 and have sold 35,713 shares valued at $729,117. Insiders own 24.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AESI. The Goldman Sachs Group reduced their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Royal Bank of Canada lowered their price objective on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Barclays dropped their price objective on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Piper Sandler reduced their target price on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Stephens restated an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Atlas Energy Solutions has a consensus rating of “Buy” and an average target price of $25.75.

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.