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

Atlas Energy Solutions Inc. (NYSE:AESI) declared a dividend on Monday, October 28th, NASDAQ reports. Stockholders of record on Thursday, November 7th will be given 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 payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of AESI traded up $0.35 during trading hours on Tuesday, hitting $20.37. The company’s stock had a trading volume of 2,796,517 shares, compared to its average volume of 886,029. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 6.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. The business has a 50 day simple moving average of $20.99 and a two-hundred day simple moving average of $21.26. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results 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 business had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. Atlas Energy Solutions’s revenue for the quarter was up 77.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, equities analysts expect that Atlas Energy Solutions will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the sale, the insider now directly owns 951,888 shares in the company, valued at $19,247,175.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the sale, the insider now directly owns 542,010 shares in the company, valued at approximately $11,111,205. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the sale, the insider now owns 951,888 shares of the company’s stock, valued at approximately $19,247,175.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 33,159 shares of company stock worth $650,776 and sold 35,713 shares worth $729,117. 24.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Piper Sandler reduced their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays reduced their price objective on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada reduced their price objective 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. Finally, 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. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.75.

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.