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

StockNews.com assumed coverage on shares of Adams Resources & Energy (NYSE:AE) in a report released on Wednesday. The firm issued a buy rating on the stock.

Separately, B. Riley reaffirmed a “neutral” rating and set a $38.00 price objective (down from $45.00) on shares of Adams Resources & Energy in a report on Wednesday, November 13th.

Adams Resources & Energy Stock Performance

NYSE:AE opened at $37.44 on Wednesday. The firm’s fifty day simple moving average is $35.71 and its 200-day simple moving average is $29.15. 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 stock has a market cap of $96.37 million, a PE ratio of -11.85 and a beta of 0.84. Adams Resources & Energy has a fifty-two week low of $22.30 and a fifty-two week high of $37.90.

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

Adams Resources & Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Friday, December 6th. Adams Resources & Energy’s payout ratio is currently -30.38%.

Hedge Funds Weigh In On Adams Resources & Energy

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Adams Resources & Energy by 118.5% in the third quarter. Barclays PLC now owns 1,934 shares of the company’s stock valued at $52,000 after buying an additional 1,049 shares during the last quarter. Geode Capital Management LLC raised its holdings in Adams Resources & Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 25,124 shares of the company’s stock valued at $679,000 after acquiring an additional 1,916 shares during the last quarter. Wittenberg Investment Management Inc. lifted its stake in shares of Adams Resources & Energy by 1.6% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock worth $576,000 after purchasing an additional 339 shares during the period. Round Hill Asset Management boosted its holdings in shares of Adams Resources & Energy by 71.6% during the third quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after purchasing an additional 9,587 shares during the last quarter. Finally, Cerity Partners LLC grew 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 valued at $549,000 after purchasing an additional 10,977 shares during the period. Hedge funds and other institutional investors own 57.81% of the company’s stock.

About Adams Resources & Energy

Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.