Atlas Energy Solutions Inc. $AESI Shares Purchased by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management LLC increased its stake in Atlas Energy Solutions Inc. by 7.4%, owning over 1 million shares worth approximately $17.85 million.
• Atlas Energy Solutions recently declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 8.5%.
• Multiple analysts have revised their target prices for the stock, with the average target now at $18.83 and a general rating of "Hold".

Evergreen Capital Management LLC raised its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,000,728 shares of the company's stock after acquiring an additional 69,178 shares during the period. Evergreen Capital Management LLC owned approximately 0.82% of Atlas Energy Solutions worth $17,853,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AESI. Nuveen LLC acquired a new stake in shares of Atlas Energy Solutions in the first quarter valued at about $26,956,000. Vanguard Group Inc. lifted its stake in shares of Atlas Energy Solutions by 16.5% in the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company's stock valued at $143,695,000 after purchasing an additional 1,139,352 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in shares of Atlas Energy Solutions in the first quarter valued at about $18,844,000. Copeland Capital Management LLC lifted its stake in shares of Atlas Energy Solutions by 42.5% in the first quarter. Copeland Capital Management LLC now owns 3,203,592 shares of the company's stock valued at $57,152,000 after purchasing an additional 955,818 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at about $17,770,000. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Trading Down 2.0%

Shares of NYSE AESI traded down $0.23 during midday trading on Wednesday, reaching $11.10. 1,102,174 shares of the stock were exchanged, compared to its average volume of 1,698,599. The company has a market capitalization of $1.37 billion, a P/E ratio of 79.18 and a beta of 1.19. Atlas Energy Solutions Inc. has a 52-week low of $10.92 and a 52-week high of $26.86. 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 50 day moving average price of $12.82 and a 200-day moving average price of $14.49.

Atlas Energy Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.0%. Atlas Energy Solutions's payout ratio is 714.29%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AESI. Royal Bank Of Canada reduced their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Citigroup dropped their target price on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Stifel Nicolaus dropped their target price on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.83.

Atlas Energy Solutions 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.