JPMorgan Chase & Co. Decreases Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

JPMorgan Chase & Co. decreased its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 59.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,072 shares of the company's stock after selling 116,422 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Atlas Energy Solutions worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 773,035 shares during the period. Copeland Capital Management LLC grew its position in shares of Atlas Energy Solutions by 19.3% during the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock worth $49,856,000 after purchasing an additional 363,742 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Atlas Energy Solutions by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company's stock worth $31,579,000 after purchasing an additional 54,321 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Atlas Energy Solutions by 75.5% during the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock worth $18,535,000 after purchasing an additional 359,420 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Atlas Energy Solutions by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 552,915 shares of the company's stock worth $12,264,000 after purchasing an additional 34,346 shares in the last quarter. Institutional investors own 34.59% of the company's stock.

Wall Street Analysts Forecast Growth

AESI has been the subject of several research analyst reports. Benchmark cut their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Raymond James cut Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. The Goldman Sachs Group cut their price target on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Stephens raised their price target on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, Piper Sandler initiated coverage on Atlas Energy Solutions in a report on Wednesday, March 12th. They set an "overweight" rating and a $22.00 price target for the company. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.44.

Atlas Energy Solutions Trading Down 5.2 %

Shares of Atlas Energy Solutions stock traded down $0.75 on Wednesday, reaching $13.55. The company had a trading volume of 1,737,638 shares, compared to its average volume of 1,264,481. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 17.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The firm's 50-day moving average price is $16.34 and its two-hundred day moving average price is $20.06. Atlas Energy Solutions Inc. has a 1 year low of $12.41 and a 1 year high of $26.86.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million for the quarter, compared to analysts' expectations of $272.94 million. As a group, research analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 7.38%. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's payout ratio is presently 178.57%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 10,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total value of $225,000.00. Following the completion of the transaction, the insider now directly owns 897,604 shares of the company's stock, valued at approximately $20,196,090. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 cost of $19.04 per share, with a total value of $612,231.20. Following the completion of the transaction, the insider now owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is owned by company 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.