Lazard Asset Management LLC Sells 53,459 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Lazard Asset Management LLC lowered its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 266,559 shares of the company's stock after selling 53,459 shares during the quarter. Lazard Asset Management LLC owned about 0.24% of Atlas Energy Solutions worth $5,912,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of Atlas Energy Solutions by 574.5% in the third quarter. Barclays PLC now owns 175,082 shares of the company's stock valued at $3,817,000 after purchasing an additional 149,126 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Atlas Energy Solutions by 324.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company's stock valued at $4,240,000 after buying an additional 148,655 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its stake in shares of Atlas Energy Solutions by 0.8% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 351,565 shares of the company's stock valued at $7,798,000 after buying an additional 2,834 shares during the period. DAVENPORT & Co LLC raised its position in shares of Atlas Energy Solutions by 29.0% during the fourth quarter. DAVENPORT & Co LLC now owns 45,800 shares of the company's stock worth $1,016,000 after acquiring an additional 10,300 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its stake 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 valued at $49,856,000 after acquiring an additional 363,742 shares during the period. Institutional investors own 34.59% of the company's stock.

Analyst Upgrades and Downgrades

AESI has been the subject of several recent research reports. Benchmark dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Piper Sandler dropped their price target on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Citigroup reduced 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 note on Tuesday, May 13th. Stephens lifted their target price 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. Finally, The Goldman Sachs Group cut their price target on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $19.81.

Insider Activity

In other Atlas Energy Solutions news, Director Douglas G. Rogers purchased 7,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $13.27 per share, with a total value of $92,890.00. Following the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $132,700. The trade was a 233.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Ben M. Brigham acquired 9,635 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the transaction, the chairman now owns 572,397 shares of the company's stock, 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. Insiders purchased 48,790 shares of company stock worth $834,038 over the last quarter. 15.98% of the stock is currently owned by company insiders.

Atlas Energy Solutions Trading Down 1.6%

Atlas Energy Solutions stock traded down $0.22 during mid-day trading on Monday, hitting $13.26. 1,321,449 shares of the company's stock were exchanged, compared to its average volume of 1,348,089. The company's 50 day simple moving average is $15.06 and its 200-day simple moving average is $19.49. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.61 billion, a P/E ratio of 16.79 and a beta of 1.34. Atlas Energy Solutions Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $26.86.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $291.13 million. During the same quarter last year, the company earned $0.26 earnings per share. The firm's revenue was up 54.5% compared to the same quarter last year. On average, equities analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date of this dividend is Thursday, May 15th. Atlas Energy Solutions's payout ratio is currently 322.58%.

About Atlas Energy Solutions

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.