Barclays Downgrades Atlas Energy Solutions (NYSE:AESI) to Equal Weight

Barclays cut shares of Atlas Energy Solutions (NYSE:AESI) from an overweight rating to an equal weight rating in a research note published on Tuesday, Marketbeat.com reports. Barclays currently has $19.00 price objective on the stock, down from their prior price objective of $23.00.

Several other brokerages also recently commented on AESI. The Goldman Sachs Group downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler decreased their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Atlas Energy Solutions Stock Down 1.5 %

Shares of Atlas Energy Solutions stock opened at $19.95 on Tuesday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 11.68 and a beta of 0.69. The stock has a 50-day simple moving average of $20.94 and a 200-day simple moving average of $21.07. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results 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 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 analyst estimates of $307.93 million. During the same quarter last 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. On average, equities research analysts expect that Atlas Energy Solutions will post 0.8 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.81%. This is a positive change 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 dividend payout ratio is presently 121.52%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the sale, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Gregory M. Shepard acquired 13,363 shares of the company’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of $19.19 per share, with a total value of $256,435.97. Following the completion of the purchase, the insider now directly owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. This represents a 0.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 74,284 shares valued at $1,548,136. 24.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Whitebox Advisors LLC bought a new stake in Atlas Energy Solutions during the 1st quarter worth about $49,712,000. Price T Rowe Associates Inc. MD grew its stake in shares of Atlas Energy Solutions by 9,759.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock valued at $36,838,000 after purchasing an additional 1,611,968 shares during the last quarter. Cooke & Bieler LP raised its position in Atlas Energy Solutions by 775.7% in the 2nd quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after purchasing an additional 1,504,988 shares during the last quarter. Wellington Management Group LLP acquired a new position in Atlas Energy Solutions during the 3rd quarter worth $17,314,000. Finally, Clearbridge Investments LLC boosted its position in Atlas Energy Solutions by 38.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock valued at $52,145,000 after buying an additional 636,785 shares during 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.