AUSTIN, Texas—Brian Anthony Leveille, a member of the 10% owner group at Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Leveille sold 10,000 shares of Atlas Energy Solutions common stock on January 17. The shares were sold at a price of $25 each, amounting to a total transaction value of $250,000. The sale occurred near the stock’s 52-week high of $25.38, with InvestingPro data showing the company maintains a GOOD financial health rating.
Following the sale, Leveille retains ownership of 387,010 shares of the company’s common stock. As a member of the 10% owner group, Leveille’s transactions are closely monitored by investors for insights into the company’s stock performance. The stock has delivered impressive returns, gaining over 54% in the past year. InvestingPro subscribers can access 8 additional ProTips and a comprehensive research report covering Atlas Energy’s complete financial picture.
In other recent news, Atlas Energy Solutions has experienced a series of downgrades. BofA Securities adjusted its stance on the company, downgrading the stock from Buy to Neutral, due to recent market dynamics affecting the frac sand industry. Similarly, Goldman Sachs initiated coverage with a Neutral rating, highlighting a 4.4% dividend yield as appealing for income-focused investors. Citi also downgraded Atlas Energy Solutions from Buy to Neutral, citing concerns over the company’s financial forecasts and valuation. Despite these downgrades, the company reported a 6% quarterly increase in revenue, reaching $304 million, and announced a dividend increase to $0.24 per share and a $200 million share repurchase program.
Meanwhile, short sellers in the energy sector faced a challenging start to the year, with $21.9 billion in year-to-date mark-to-market losses. The most unprofitable energy shorts were led by Chevron Corp (NYSE:CVX), and the most crowded shorts included Atlas Energy Solutions. Despite these losses, there hasn’t been a significant amount of short covering in the sector.
In other developments, Texas Pacific Land (NYSE:TPL) Corp is set to join the S&P 500, replacing Marathon Oil Corp (NYSE:MRO), leading to a surge in the company’s stock. Concurrently, Atlas Energy Solutions is set to take Mueller Industries (NYSE:MLI)’ spot in the S&P SmallCap 600. These recent developments provide investors with crucial insights into the evolving landscape of the energy sector.
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