Atlas Energy Solutions Inc. $AESI Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Atlas Energy Solutions Inc. by 10.5% during Q1, owning approximately 3,033,935 shares worth $54.1 million after selling 356,334 shares.
• Analysts have recently lowered price targets for Atlas Energy Solutions, with Citigroup dropping its target from $18.00 to $14.00 and several firms maintaining a "neutral" or "hold" rating.
• Atlas Energy Solutions declared a quarterly dividend of $0.25, representing an annualized rate of $1.00, with a high dividend yield of 8.6%.

Price T Rowe Associates Inc. MD lessened its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,033,935 shares of the company's stock after selling 356,334 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.49% of Atlas Energy Solutions worth $54,126,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. HITE Hedge Asset Management LLC purchased a new stake in Atlas Energy Solutions in the 1st quarter worth approximately $18,844,000. Quantbot Technologies LP boosted its stake in shares of Atlas Energy Solutions by 674.3% in the 1st quarter. Quantbot Technologies LP now owns 125,889 shares of the company's stock valued at $2,246,000 after buying an additional 109,630 shares during the period. Wellington Management Group LLP boosted its stake in shares of Atlas Energy Solutions by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 903,711 shares of the company's stock valued at $16,122,000 after buying an additional 48,306 shares during the period. Northern Trust Corp lifted its stake in Atlas Energy Solutions by 7.6% during the first quarter. Northern Trust Corp now owns 966,528 shares of the company's stock worth $17,243,000 after purchasing an additional 68,275 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Atlas Energy Solutions during the first quarter worth approximately $629,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Analyst Upgrades and Downgrades

AESI has been the topic of a number of recent analyst reports. 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 report on Tuesday, May 13th. Stifel Nicolaus cut their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Piper Sandler lowered their target price on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada reduced their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.83.

Atlas Energy Solutions Price Performance

AESI stock opened at $11.62 on Wednesday. Atlas Energy Solutions Inc. has a one year low of $10.92 and a one year high of $26.86. The company has a market capitalization of $1.44 billion, a PE ratio of 82.97 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.56. The company's fifty day moving average price is $13.07 and its 200-day moving average price is $14.83.

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 714.29%.

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.

Want to see what other hedge funds are holding AESI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlas Energy Solutions Inc. (NYSE:AESI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.