Atlas Energy Solutions Inc. Announces Dividend of $0.24 (NYSE:AESI)

by · The Cerbat Gem

Atlas Energy Solutions Inc. (NYSE:AESI – Get Free Report) declared a dividend on Monday, October 28th, NASDAQ reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.24 per share on Thursday, November 14th. The ex-dividend date of this dividend is Thursday, November 7th.

Atlas Energy Solutions has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Atlas Energy Solutions to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 33.1%.

Atlas Energy Solutions Stock Up 1.7 %

Shares of NYSE:AESI traded up $0.34 during trading hours on Tuesday, reaching $20.37. The stock had a trading volume of 2,796,517 shares, compared to its average volume of 886,029. The firm’s 50 day moving average is $20.99 and its 200-day moving average is $21.26. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53.

Atlas Energy Solutions (NYSE:AESI – Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.18). The firm had revenue of $287.52 million during the quarter, compared to analyst estimates of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. Atlas Energy Solutions’s revenue was up 77.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Research analysts predict that Atlas Energy Solutions will post 1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AESI has been the subject of several recent analyst reports. Barclays reduced their price target on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. The Goldman Sachs Group reduced their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America lowered 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 report on Monday, July 15th. Finally, Piper Sandler reduced 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 research report on Monday, July 15th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Atlas Energy Solutions currently has an average rating of “Buy” and a consensus price target of $25.75.

Get Our Latest Stock Analysis on AESI

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the sale, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 23,300 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the purchase, the insider now owns 7,540,306 shares of the company’s stock, valued at $147,412,982.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 33,159 shares of company stock valued at $650,776 and sold 35,713 shares valued at $729,117. Corporate insiders own 24.34% of the company’s stock.

About Atlas Energy Solutions

(Get Free Report)

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.

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