Lazard Asset Management LLC Cuts Stock Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Lazard Asset Management LLC trimmed its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 266,559 shares of the company's stock after selling 53,459 shares during the period. Lazard Asset Management LLC owned 0.24% of Atlas Energy Solutions worth $5,912,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Atlas Energy Solutions in the fourth quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock worth $30,000 after acquiring an additional 523 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock worth $31,000 after acquiring an additional 1,047 shares during the period. Global Retirement Partners LLC grew its stake in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock worth $43,000 after acquiring an additional 1,276 shares during the period. Finally, Promus Capital LLC bought a new stake in shares of Atlas Energy Solutions in the fourth quarter worth approximately $55,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of research reports. Stephens raised their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Royal Bank of Canada dropped 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 report on Wednesday, May 7th. Stifel Nicolaus initiated coverage on shares of Atlas Energy Solutions in a report on Wednesday. They issued a "buy" rating and a $15.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Benchmark dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $19.28.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard acquired 32,155 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired 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 $145,679,038.40. This represents a 0.42% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ben M. Brigham acquired 9,635 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $13.38 per share, with a total value of $128,916.30. Following the completion of the transaction, the chairman now owns 572,397 shares of the company's stock, valued at approximately $7,658,671.86. This represents a 1.71% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 48,790 shares of company stock worth $834,038 in the last quarter. Company insiders own 15.98% of the company's stock.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock traded down $0.39 during trading on Wednesday, reaching $12.74. The company had a trading volume of 554,389 shares, compared to its average volume of 1,345,813. Atlas Energy Solutions Inc. has a 1-year low of $11.76 and a 1-year high of $26.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The firm's 50-day simple moving average is $14.89 and its 200 day simple moving average is $19.40. The firm has a market capitalization of $1.57 billion, a PE ratio of 16.14 and a beta of 1.34.

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

Atlas Energy Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued 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 dividend yield of 7.85%. Atlas Energy Solutions's dividend payout ratio is presently 322.58%.

Atlas Energy Solutions 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.