Atlas Energy Solutions Inc. (NYSE:AESI) Increases Dividend to $0.25 Per Share

Atlas Energy Solutions Inc. (NYSE:AESI) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Friday, February 21st will be paid a dividend of 0.25 per share on Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 4.56%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24.

Atlas Energy Solutions has a dividend payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atlas Energy Solutions to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 64.0%.

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI opened at $21.91 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2.41 billion, a PE ratio of 27.73 and a beta of 1.03. The firm has a 50 day moving average of $22.62 and a 200-day moving average of $21.64. Atlas Energy Solutions has a 12 month low of $17.49 and a 12 month high of $26.86.

Insider Buying and Selling

In related news, major shareholder Stacy Hock sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total transaction of $225,000.00. Following the completion of the sale, the insider now owns 897,604 shares of the company’s stock, valued at $20,196,090. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.95, for a total value of $299,375.00. Following the completion of the sale, the insider now owns 419,510 shares of the company’s stock, valued at approximately $10,047,264.50. The trade was a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,071 shares of company stock valued at $2,493,851 over the last ninety days. 24.34% of the stock is owned by company insiders.

Analyst Ratings Changes

AESI has been the subject of several recent analyst reports. Bank of America restated a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Benchmark lifted their target price on Atlas Energy Solutions from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

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.