Insider Buying: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Acquires $280,770.79 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard acquired 14,347 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average price of $19.57 per share, with a total value of $280,770.79. Following the completion of the acquisition, the insider now directly owns 7,554,653 shares in the company, valued at $147,844,559.21. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Trading Up 6.1 %

AESI stock opened at $21.42 on Thursday. The firm’s fifty day simple moving average is $20.90 and its two-hundred day simple moving average is $21.16. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 10.60 and a beta of 0.69. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93.

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

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, November 7th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 116.46%.

Institutional Investors Weigh In On Atlas Energy Solutions

Several large investors have recently added to or reduced their stakes in AESI. Whitebox Advisors LLC purchased a new stake in shares of Atlas Energy Solutions in the first quarter valued at approximately $49,712,000. Price T Rowe Associates Inc. MD lifted its stake in Atlas Energy Solutions by 9,759.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock worth $36,838,000 after acquiring an additional 1,611,968 shares during the period. Cooke & Bieler LP grew its holdings in Atlas Energy Solutions by 775.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after acquiring an additional 1,504,988 shares in the last quarter. Clearbridge Investments LLC increased its position in Atlas Energy Solutions by 38.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock valued at $52,145,000 after purchasing an additional 636,785 shares during the period. Finally, Meridian Wealth Advisors LLC raised its holdings in shares of Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after purchasing an additional 548,620 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AESI has been the subject of a number of analyst reports. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Bank of America decreased their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group dropped their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Benchmark restated 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, Barclays dropped their target price 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. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Atlas Energy Solutions currently has an average 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.