Gregory M. Shepard, a member of the 10% owner group at Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), recently acquired 2,200 shares of the company's common stock. The transaction, dated October 15, 2024, was executed at an average price of $19.88 per share, resulting in a total purchase value of $43,736.
Following this acquisition, Shepard's direct ownership stands at 7,505,397 shares. This move underscores Shepard's continued involvement and investment in the company, which operates in the crude petroleum and natural gas sector.
In other recent news, Atlas Energy Solutions has seen a series of significant developments. The company's board has expanded from eight to nine members, with CEO John Turner appointed to the new seat. Turner's industry experience and tenure with Atlas Energy Solutions since its inception in 2017 are anticipated to provide valuable insights.
Atlas Energy's Q2 2024 revenues surged by 49% to $288 million, with an adjusted EBITDA of $72 million. The company also announced a dividend increase to $0.23 per share. Despite operational setbacks, the commissioning of the Dune Express, a 42-mile conveyor system, is considered a positive development.
Analysts from various firms have adjusted their price targets for Atlas Energy. Citi reduced its target to $23.00, while maintaining a Buy rating. RBC Capital Markets adjusted its price target to $26.00, also maintaining an Outperform rating. Stephens kept its Overweight rating and a price target of $28.00, despite revising its earnings estimates downwards. Goldman Sachs reiterated its Buy rating with a $23.00 price target, emphasizing Atlas Energy's cost-effective operations and the projected free cash flow surge in 2025.
InvestingPro Insights
Gregory M. Shepard's recent acquisition of Atlas Energy Solutions Inc. (NYSE:AESI) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock, currently trading at $19.98, has shown resilience with a 19.9% year-to-date price total return, despite a recent 7.71% dip over the past week.
InvestingPro data reveals that AESI boasts a market capitalization of $2.2 billion and a price-to-earnings ratio of 17.22, suggesting a reasonable valuation relative to its earnings. The company's financial health appears robust, with InvestingPro Tips noting that liquid assets exceed short-term obligations and the company operates with a moderate level of debt.
Importantly for investors, AESI offers an attractive dividend yield of 5.11%, with a significant dividend growth of 70% over the last twelve months. This generous dividend policy may be supported by the company's profitability, as InvestingPro Tips indicate that AESI has been profitable over the last twelve months and analysts predict continued profitability this year.
While four analysts have revised their earnings downwards for the upcoming period, the overall outlook remains positive. Analysts anticipate sales growth in the current year, which is corroborated by the impressive 77.71% quarterly revenue growth reported in Q2 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 7 more InvestingPro Tips available for AESI, providing a deeper understanding of the company's financial position and market performance.
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