Frontier Capital Management Co. LLC Takes Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Frontier Capital Management Co. LLC acquired a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 801,153 shares of the company's stock, valued at approximately $17,770,000. Frontier Capital Management Co. LLC owned 0.73% of Atlas Energy Solutions as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. purchased a new stake in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $1,366,000. Louisiana State Employees Retirement System purchased a new stake in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $650,000. Hodges Capital Management Inc. raised its stake in shares of Atlas Energy Solutions by 44.7% during the fourth quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company's stock valued at $4,302,000 after purchasing an additional 59,940 shares during the period. Vanguard Group Inc. raised its stake in shares of Atlas Energy Solutions by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after purchasing an additional 773,035 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Atlas Energy Solutions by 15.5% during the fourth quarter. Sei Investments Co. now owns 213,857 shares of the company's stock valued at $4,744,000 after purchasing an additional 28,639 shares during the period. Hedge funds and other institutional investors own 34.59% of the company's stock.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard purchased 32,155 shares of Atlas Energy Solutions stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $19.04 per share, with a total value of $612,231.20. Following the completion of the acquisition, the insider now owns 7,651,210 shares in the company, valued at $145,679,038.40. The trade was a 0.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday. Benchmark dropped their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their price target 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. Stephens lifted their price target on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group dropped their price target on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $20.81.

Atlas Energy Solutions Stock Performance

AESI stock traded up $0.32 during trading on Friday, hitting $12.57. 1,846,055 shares of the company's stock traded hands, compared to its average volume of 1,311,479. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 52 week low of $11.76 and a 52 week high of $26.86. The stock has a fifty day moving average price of $15.50 and a two-hundred day moving average price of $19.72. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 15.91 and a beta of 1.34.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.10). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $297.59 million for the quarter, compared to the consensus estimate of $291.13 million. During the same quarter in the previous year, the firm earned $0.26 EPS. The firm's revenue for the quarter was up 54.5% on a year-over-year basis. As a group, equities analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 7.96%. Atlas Energy Solutions's payout ratio is 322.58%.

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.