Burkehill Global Management LP Invests $8.47 Million in Atlas Energy Solutions Inc. (NYSE:AESI)

Key Points

• Burkehill Global Management LP has acquired 475,000 shares of Atlas Energy Solutions Inc. for approximately $8.47 million, representing a 0.39% ownership stake.
• Atlas Energy Solutions recently announced a quarterly dividend of $0.25 per share, yielding 8.5%, with the ex-dividend date set for August 14th.
• Several analysts have issued mixed ratings on Atlas Energy Solutions, with target prices ranging from $14.00 to $19.11, indicating a cautious outlook on the stock.

Burkehill Global Management LP purchased a new stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 475,000 shares of the company's stock, valued at approximately $8,474,000. Burkehill Global Management LP owned approximately 0.39% of Atlas Energy Solutions as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Atlas Energy Solutions in the 4th quarter valued at $27,000. Tower Research Capital LLC TRC raised its holdings in Atlas Energy Solutions by 307.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after acquiring an additional 1,047 shares in the last quarter. Fifth Third Bancorp raised its holdings in Atlas Energy Solutions by 1,240.1% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock valued at $35,000 after acquiring an additional 1,823 shares in the last quarter. Larson Financial Group LLC raised its holdings in Atlas Energy Solutions by 201.8% in the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock valued at $35,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in Atlas Energy Solutions in the 1st quarter valued at $73,000. 34.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AESI. Royal Bank Of Canada decreased their price target on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus reduced their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research report on Monday. Citigroup dropped their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $16.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.06.

Atlas Energy Solutions Stock Performance

Shares of AESI traded down $0.13 on Wednesday, reaching $11.70. 192,635 shares of the company's stock traded hands, compared to its average volume of 1,726,717. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.45 billion, a PE ratio of 83.61 and a beta of 1.19. The stock's 50 day simple moving average is $13.56 and its two-hundred day simple moving average is $15.64. Atlas Energy Solutions Inc. has a 52-week low of $11.34 and a 52-week high of $26.86.

Atlas Energy Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio is 714.29%.

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.