Adams Resources & Energy (NYSE:AE) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Adams Resources & Energy (NYSE:AE) in a research note published on Friday morning. The brokerage issued a buy rating on the stock.

Separately, B. Riley restated a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Adams Resources & Energy in a research note on Wednesday, November 13th.

Adams Resources & Energy Stock Performance

Shares of Adams Resources & Energy stock opened at $37.90 on Friday. The firm’s 50 day moving average is $37.34 and its two-hundred day moving average is $30.08. Adams Resources & Energy has a 52 week low of $22.30 and a 52 week high of $38.00. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $97.40 million, a P/E ratio of -11.99 and a beta of 0.84.

Adams Resources & Energy (NYSE:AE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.56) by ($1.20). The firm had revenue of $695.16 million for the quarter, compared to analyst estimates of $649.00 million. Adams Resources & Energy had a negative return on equity of 8.14% and a negative net margin of 0.29%. Research analysts forecast that Adams Resources & Energy will post -2.65 EPS for the current fiscal year.

Adams Resources & Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a yield of 2.53%. Adams Resources & Energy’s dividend payout ratio (DPR) is currently -30.38%.

Hedge Funds Weigh In On Adams Resources & Energy

Several large investors have recently added to or reduced their stakes in the business. Bard Associates Inc. grew its stake in shares of Adams Resources & Energy by 13.1% during the 3rd quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock valued at $336,000 after buying an additional 1,443 shares during the period. Empowered Funds LLC increased its position in Adams Resources & Energy by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after purchasing an additional 938 shares in the last quarter. Cerity Partners LLC increased its position in shares of Adams Resources & Energy by 117.1% in the third quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock worth $549,000 after acquiring an additional 10,977 shares in the last quarter. Round Hill Asset Management raised its stake in shares of Adams Resources & Energy by 71.6% in the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock valued at $620,000 after acquiring an additional 9,587 shares during the period. Finally, Wittenberg Investment Management Inc. increased its holdings in Adams Resources & Energy by 1.6% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after purchasing an additional 339 shares in the last quarter. 57.81% of the stock is currently owned by hedge funds and other institutional investors.

Adams Resources & Energy Company Profile

Adams Resources & Energy, Inc engages in the business of crude oil marketing, transportation and storage in various crude oil and natural gas basins. It operates through the following segments: crude oil marketing, transportation and storage, tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk, and pipeline transportation, terminalling and storage of crude oil.