Gregory M. Shepard Acquires 8,062 Shares of Atlas Energy Solutions Inc. (NYSE:AESI) Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 8,062 shares of the company’s stock in a transaction on Monday, October 21st. The stock was acquired at an average price of $19.84 per share, with a total value of $159,950.08. Following the purchase, the insider now owns 7,515,256 shares of the company’s stock, valued at approximately $149,102,679.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Performance

NYSE:AESI traded down $0.18 during mid-day trading on Wednesday, reaching $20.10. 81,221 shares of the stock were exchanged, compared to its average volume of 871,270. The stock has a market capitalization of $2.01 billion, a P/E ratio of 11.27, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions Inc. has a 1 year low of $15.55 and a 1 year high of $24.93. The company has a 50 day simple moving average of $21.01 and a 200-day simple moving average of $21.37. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42.

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

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, August 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 4.58%. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after buying an additional 33,286 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Atlas Energy Solutions by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock worth $53,740,000 after acquiring an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC lifted its holdings in Atlas Energy Solutions by 25.8% in the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after acquiring an additional 548,620 shares during the period. Janus Henderson Group PLC boosted its position in shares of Atlas Energy Solutions by 26.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock worth $57,392,000 after purchasing an additional 537,927 shares in the last quarter. Finally, Whitebox Advisors LLC acquired a new position in shares of Atlas Energy Solutions during the 1st quarter worth $49,712,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AESI. Stephens restated an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their price target on shares of 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. Piper Sandler lowered 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. Finally, Bank of America reduced their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Atlas Energy Solutions has an average rating of “Buy” and an average price target 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.