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Brian Anthony Leveille, a member of the 10% owner group of Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), recently sold 10,000 shares of the company's common stock. The transaction, which took place on November 18, 2024, was executed at a price of $20.70 per share, amounting to a total of $207,000. Following this sale, Leveille holds 482,010 shares of the company. Atlas Energy Solutions, headquartered in Austin, Texas, operates in the crude petroleum and natural gas industry.
In other recent news, Atlas Energy Solutions has experienced notable changes in its financial and operational outlook. The company reported a 6% quarterly increase in revenue, reaching $304 million, and announced a dividend increase to $0.24 per share along with a $200 million share repurchase program. Despite these positive developments, Atlas Energy has been downgraded by several investment firms. Citi downgraded the stock from Buy to Neutral, adjusting the price target to $22 from $23, due to concerns over the company's sand production segment. Similarly, Barclays (LON:BARC) moved its rating from Overweight to Equalweight, reducing the price target to $19.00, following a downward adjustment in the 2025 EBITDA forecast. Goldman Sachs also downgraded Atlas Energy shares from Buy to Neutral, citing the belief that the shares are now fairly valued. These recent developments provide crucial insights for investors assessing Atlas Energy Solutions' current standing and future prospects.
InvestingPro Insights
Following Brian Anthony Leveille's recent sale of Atlas Energy Solutions Inc. (NYSE:AESI) shares, investors may find additional context in the company's current financial metrics and market performance. According to InvestingPro data, AESI boasts a market capitalization of $2.31 billion, with a price-to-earnings ratio of 20.87 based on the last twelve months as of Q3 2024. This P/E ratio is lower than the current P/E of 28.93, suggesting a potentially more attractive valuation based on recent earnings.
The company's revenue growth is particularly noteworthy, with a 93.15% increase in quarterly revenue as of Q3 2024. This robust growth aligns with the company's position in the dynamic crude petroleum and natural gas industry. Additionally, AESI offers a dividend yield of 4.83%, which may be attractive to income-focused investors.
InvestingPro Tips highlight that Atlas Energy Solutions has raised its dividend for 3 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by the significant dividend growth of 68.33% over the last twelve months. These factors could provide some context to Leveille's decision to sell a portion of his holdings while still maintaining a substantial position in the company.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Atlas Energy Solutions, providing a deeper understanding of the company's financial health and market position.
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