Atlas Energy Solutions Inc. (NYSE:AESI) is Meridian Wealth Advisors LLC’s 2nd Largest Position

Meridian Wealth Advisors LLC lowered its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,645,843 shares of the company’s stock after selling 32,957 shares during the period. Atlas Energy Solutions makes up approximately 8.0% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Meridian Wealth Advisors LLC owned 2.17% of Atlas Energy Solutions worth $47,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Atlas Energy Solutions by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 552,915 shares of the company’s stock worth $12,264,000 after buying an additional 34,346 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Atlas Energy Solutions in the 4th quarter valued at $495,000. Raymond James Financial Inc. acquired a new stake in shares of Atlas Energy Solutions in the 4th quarter valued at $2,203,000. Avantax Advisory Services Inc. raised its holdings in shares of Atlas Energy Solutions by 22.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 28,509 shares of the company’s stock valued at $632,000 after purchasing an additional 5,183 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of Atlas Energy Solutions in the 4th quarter valued at $1,039,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Insiders Place Their Bets

In other news, Director Douglas G. Rogers acquired 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $13.27 per share, with a total value of $92,890.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $132,700. The trade was a 233.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ben M. Brigham bought 9,635 shares of the firm’s 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 transaction, 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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 report on Tuesday, May 13th. The Goldman Sachs Group cut their price target on shares of 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. Royal Bank Of Canada cut their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Piper Sandler reiterated a “neutral” rating and set a $16.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Finally, 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlas Energy Solutions currently has an average rating of “Hold” and a consensus target price of $19.11.

Atlas Energy Solutions Price Performance

AESI opened at $13.43 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Atlas Energy Solutions Inc. has a 52-week low of $11.76 and a 52-week high of $26.86. The company has a 50 day moving average of $13.52 and a two-hundred day moving average of $16.85. The company has a market cap of $1.66 billion, a P/E ratio of 43.32 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI) last announced 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). The firm had revenue of $297.59 million during the quarter, compared to analysts’ expectations of $291.13 million. Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. Atlas Energy Solutions’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. On average, analysts expect that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.45%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 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.