Atlas Energy Solutions (NYSE:AESI) Price Target Raised to $27.00 at Raymond James

Atlas Energy Solutions (NYSE:AESI) had its target price upped by Raymond James from $26.00 to $27.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

A number of other brokerages also recently commented on AESI. Barclays upped their target price on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Royal Bank of Canada boosted their price target on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Thursday, March 14th. They set a buy rating and a $24.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atlas Energy Solutions has a consensus rating of Buy and an average target price of $25.17.

Atlas Energy Solutions Price Performance

AESI stock opened at $22.14 on Tuesday. The stock has a market capitalization of $2.21 billion and a price-to-earnings ratio of 14.10. The firm’s 50-day moving average price is $20.70 and its two-hundred day moving average price is $18.89. The company has a current ratio of 3.44, a quick ratio of 3.21 and a debt-to-equity ratio of 0.20. Atlas Energy Solutions has a 12-month low of $15.28 and a 12-month high of $24.69.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). The business had revenue of $141.14 million during the quarter, compared to the consensus estimate of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. As a group, equities analysts predict that Atlas Energy Solutions will post 2.92 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.79%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, February 21st. Atlas Energy Solutions’s payout ratio is 40.76%.

Insider Activity

In related news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.97, for a total value of $998,500.00. Following the transaction, the insider now owns 970,738 shares in the company, valued at approximately $19,385,637.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jeffrey L. Allison sold 1,547 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.50, for a total value of $34,807.50. Following the completion of the transaction, the executive vice president now owns 132,518 shares in the company, valued at $2,981,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the transaction, the insider now owns 970,738 shares in the company, valued at approximately $19,385,637.86. The disclosure for this sale can be found here. Insiders sold 246,860 shares of company stock worth $5,332,121 over the last three months. 24.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of large investors have recently added to or reduced their stakes in AESI. Vanguard Group Inc. grew its position in Atlas Energy Solutions by 180.5% during the fourth quarter. Vanguard Group Inc. now owns 4,582,507 shares of the company’s stock valued at $78,911,000 after buying an additional 2,948,611 shares during the period. Villere ST Denis J & Co. LLC lifted its position in Atlas Energy Solutions by 258.0% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 1,813,539 shares of the company’s stock valued at $31,229,000 after purchasing an additional 1,306,900 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Atlas Energy Solutions during the fourth quarter valued at about $27,963,000. Meridian Wealth Advisors LLC purchased a new stake in Atlas Energy Solutions in the fourth quarter worth about $21,795,000. Finally, BlackRock Inc. raised its stake in shares of Atlas Energy Solutions by 532.0% in the second quarter. BlackRock Inc. now owns 1,263,197 shares of the company’s stock worth $21,929,000 after buying an additional 1,063,316 shares during the period. Institutional investors own 34.59% of the company’s stock.

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.