Encompass Capital Advisors LLC Takes $43.61 Million Position in Atlas Energy Solutions Inc. $AESI

Key Points

• Encompass Capital Advisors LLC acquired 2,444,756 shares of Atlas Energy Solutions Inc. for approximately $43.6 million, representing about 1.7% of their investment portfolio.
• Atlas Energy Solutions recently declared a quarterly dividend of $0.25, resulting in an annualized yield of 9.2%, although the company has a high dividend payout ratio of 714.29%.
• Analysts have lowered their target prices for Atlas Energy Solutions, with the average consensus target now at $18.83, and several maintain a "Hold" rating on the stock.

Encompass Capital Advisors LLC acquired a new position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,444,756 shares of the company's stock, valued at approximately $43,614,000. Atlas Energy Solutions makes up approximately 1.7% of Encompass Capital Advisors LLC's investment portfolio, making the stock its 24th biggest position. Encompass Capital Advisors LLC owned 2.01% of Atlas Energy Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Atlas Energy Solutions in the 1st quarter worth about $912,000. Alpine Woods Capital Investors LLC raised its stake in Atlas Energy Solutions by 1,360.8% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 228,082 shares of the company's stock worth $4,069,000 after purchasing an additional 212,469 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Atlas Energy Solutions by 65.5% in the 1st quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock worth $1,352,000 after purchasing an additional 30,000 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Atlas Energy Solutions by 9.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company's stock worth $6,799,000 after purchasing an additional 33,404 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Atlas Energy Solutions by 13.1% in the 1st quarter. Amalgamated Bank now owns 20,592 shares of the company's stock worth $367,000 after purchasing an additional 2,383 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AESI shares. 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 research report on Monday, August 11th. 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 research report on Thursday, August 14th. Finally, 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 research report on Tuesday, May 13th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $18.83.

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI traded down $0.08 during midday trading on Monday, hitting $10.72. The stock had a trading volume of 1,332,792 shares, compared to its average volume of 1,712,399. The company's 50-day moving average price is $12.67 and its 200-day moving average price is $14.20. The company has a market capitalization of $1.33 billion, a P/E ratio of 76.54 and a beta of 1.19. Atlas Energy Solutions Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $26.86. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 0.39.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio 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.