Victory Capital Management Inc. Reduces Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Victory Capital Management Inc. reduced its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 3.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,196,789 shares of the company’s stock after selling 37,736 shares during the quarter. Victory Capital Management Inc.’s holdings in Atlas Energy Solutions were worth $20,609,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tucker Asset Management LLC bought a new position in Atlas Energy Solutions during the third quarter worth about $49,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Atlas Energy Solutions during the 3rd quarter valued at approximately $81,000. PNC Financial Services Group Inc. boosted its holdings in Atlas Energy Solutions by 1,328.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock worth $124,000 after buying an additional 5,181 shares during the period. Barclays PLC grew its stake in Atlas Energy Solutions by 79.4% in the 3rd quarter. Barclays PLC now owns 5,996 shares of the company’s stock valued at $134,000 after buying an additional 2,654 shares in the last quarter. Finally, Wealthsource Partners LLC bought a new stake in Atlas Energy Solutions during the 4th quarter valued at $172,000. Institutional investors own 34.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Raymond James lifted their price target on Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Barclays upped their price target on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Thursday, March 14th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $25.17.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of Atlas Energy Solutions stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now owns 970,738 shares of the company’s stock, valued at $19,385,637.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $19.97, for a total value of $998,500.00. Following the completion of the sale, the insider now owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Gregory Turner sold 3,728 shares of Atlas Energy Solutions stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.58, for a total transaction of $84,178.24. Following the completion of the transaction, the chief financial officer now owns 1,582,303 shares in the company, valued at approximately $35,728,401.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,860 shares of company stock worth $5,332,121. Corporate insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $23.02 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of 14.66, a PEG ratio of 0.54 and a beta of 0.66. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $22.19 and its two-hundred day moving average price is $19.12. Atlas Energy Solutions Inc. has a twelve month low of $15.28 and a twelve month high of $24.69.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, May 6th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 17.17% and a return on equity of 47.40%. The company had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. During the same period in the prior year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities analysts predict that Atlas Energy Solutions Inc. will post 2.93 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.22 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Wednesday, May 15th. Atlas Energy Solutions’s payout ratio is currently 40.76%.

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.