Atlas Energy Solutions (NYSE:AESI) Downgraded by Citigroup to Neutral

Citigroup lowered shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a research report report published on Thursday, Marketbeat Ratings reports. Citigroup currently has $22.00 target price on the stock, down from their previous target price of $23.00.

Several other equities analysts have also recently commented on AESI. The Goldman Sachs Group cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $23.00 to $19.00 in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Trading Down 1.5 %

Atlas Energy Solutions stock traded down $0.30 during trading on Thursday, hitting $19.95. The company had a trading volume of 394,446 shares, compared to its average volume of 892,603. Atlas Energy Solutions has a 1-year low of $15.55 and a 1-year high of $24.93. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company’s 50 day simple moving average is $20.94 and its 200-day simple moving average is $21.09. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 11.68 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same period in the prior year, the business earned $0.51 EPS. The business’s quarterly revenue was up 93.1% on a year-over-year basis. As a group, analysts expect that Atlas Energy Solutions will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.81%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is 121.52%.

Insider Buying and Selling

In related news, major shareholder Gregory M. Shepard acquired 13,363 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $19.19 per share, with a total value of $256,435.97. Following the completion of the transaction, the insider now owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. This trade represents a 0.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Brian Anthony Leveille sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $21.39, for a total transaction of $427,800.00. Following the transaction, the insider now directly owns 512,010 shares in the company, valued at $10,951,893.90. The trade was a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 65,713 shares worth $1,367,117. Insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Several large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in Atlas Energy Solutions in the third quarter worth approximately $253,000. HITE Hedge Asset Management LLC lifted its stake in shares of Atlas Energy Solutions by 2.8% in the third quarter. HITE Hedge Asset Management LLC now owns 158,023 shares of the company’s stock worth $3,445,000 after buying an additional 4,294 shares during the last quarter. Beck Capital Management LLC lifted its stake in shares of Atlas Energy Solutions by 2.7% in the third quarter. Beck Capital Management LLC now owns 134,144 shares of the company’s stock worth $2,924,000 after buying an additional 3,556 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Atlas Energy Solutions by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock worth $979,000 after buying an additional 711 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Atlas Energy Solutions by 55.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock worth $125,000 after buying an additional 2,043 shares during the last quarter. 34.59% of the stock is owned by institutional investors.

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.