Jefferies Financial Group Inc. Acquires Shares of 36,706 Atlas Energy Solutions Inc. (NYSE:AESI)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Atlas Energy Solutions worth approximately $655,000, acquiring 36,706 shares in the first quarter.
• Several institutional investors, including Natixis Advisors LLC and XTX Topco Ltd, have also established new positions in Atlas Energy Solutions, contributing to a total of 34.59% of the stock being owned by hedge funds and institutional investors.
• Atlas Energy Solutions announced a quarterly dividend of $0.25 per share, with an annualized dividend of $1.00, representing a dividend yield of 7.9%.

Jefferies Financial Group Inc. purchased a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 36,706 shares of the company's stock, valued at approximately $655,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Atlas Energy Solutions by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock worth $153,382,000 after buying an additional 773,035 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Atlas Energy Solutions by 31.5% in the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock worth $86,697,000 after buying an additional 935,410 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Atlas Energy Solutions by 25.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock worth $75,197,000 after buying an additional 689,846 shares in the last quarter. 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 worth $57,152,000 after buying an additional 955,818 shares in the last quarter. Finally, Cooke & Bieler LP lifted its position in Atlas Energy Solutions by 2.3% during the first quarter. Cooke & Bieler LP now owns 2,600,093 shares of the company's stock valued at $46,386,000 after purchasing an additional 57,546 shares during the period. Hedge funds and other institutional investors own 34.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AESI. Citigroup lowered their price objective on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Stifel Nicolaus lowered their price objective on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Royal Bank Of Canada lowered their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Piper Sandler restated a "neutral" rating and set a $16.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.11.

Atlas Energy Solutions Stock Down 0.6%

NYSE AESI traded down $0.07 during trading on Friday, reaching $11.73. 1,459,315 shares of the company's stock traded hands, compared to its average volume of 1,440,067. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.40. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 83.79 and a beta of 1.19. The company's 50 day simple moving average is $13.60 and its two-hundred day simple moving average is $15.87. Atlas Energy Solutions Inc. has a 12-month low of $11.60 and a 12-month high of $26.86.

Atlas Energy Solutions Announces Dividend

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

Insider Buying and Selling

In related news, Director Douglas G. Rogers bought 7,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at approximately $132,700. This trade represents a 233.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ben M. Brigham bought 9,635 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $13.38 per share, with a total value of $128,916.30. Following the completion of the purchase, the chairman directly owned 572,397 shares in the company, valued at $7,658,671.86. This represents a 1.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.98% of the stock is owned by insiders.

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.