Atlas Energy Solutions Inc. $AESI Shares Bought by First Sabrepoint Capital Management LP

Key Points

• First Sabrepoint Capital Management LP increased its stake in Atlas Energy Solutions Inc. to $6.69 million, holding 375,000 shares after acquiring an additional 25,000 shares in the first quarter.
• The stock currently has a consensus rating of "Hold" among analysts, with a consensus target price of $18.83, following recent adjustments from firms like Citigroup and Piper Sandler.
• Atlas Energy Solutions has declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 8.5%, despite having a high dividend payout ratio of 714.29%.

First Sabrepoint Capital Management LP grew its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 375,000 shares of the company's stock after buying an additional 25,000 shares during the quarter. Atlas Energy Solutions accounts for about 2.5% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 19th largest holding. First Sabrepoint Capital Management LP owned about 0.31% of Atlas Energy Solutions worth $6,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Atlas Energy Solutions during the 1st quarter valued at approximately $912,000. Alpine Woods Capital Investors LLC boosted its stake in shares of Atlas Energy Solutions by 1,360.8% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 228,082 shares of the company's stock valued at $4,069,000 after buying an additional 212,469 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Atlas Energy Solutions by 65.5% during the 1st quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock valued at $1,352,000 after buying an additional 30,000 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Atlas Energy Solutions by 9.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company's stock valued at $6,799,000 after buying an additional 33,404 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Atlas Energy Solutions by 13.1% during the 1st quarter. Amalgamated Bank now owns 20,592 shares of the company's stock valued at $367,000 after buying an additional 2,383 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AESI has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Royal Bank Of Canada reduced their price objective 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. Citigroup reduced 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 reduced their price objective on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.83.

Atlas Energy Solutions Stock Performance

Shares of NYSE:AESI traded up $0.27 during trading hours on Thursday, hitting $11.15. The stock had a trading volume of 1,920,550 shares, compared to its average volume of 1,703,225. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 79.61 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. Atlas Energy Solutions Inc. has a 1-year low of $10.79 and a 1-year high of $26.86. The stock's fifty day simple moving average is $12.78 and its 200 day simple moving average is $14.46.

Atlas Energy Solutions Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) 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.