StockNews.com Initiates Coverage on Adams Resources & Energy (NYSE:AE)

Equities research analysts at StockNews.com initiated coverage on shares of Adams Resources & Energy (NYSE:AE) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

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

Adams Resources & Energy Stock Performance

Shares of Adams Resources & Energy stock opened at $37.98 on Tuesday. The firm has a market cap of $97.61 million, a PE ratio of -12.02 and a beta of 0.83. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. Adams Resources & Energy has a 52 week low of $22.30 and a 52 week high of $38.00. The business’s fifty day simple moving average is $37.64 and its 200-day simple moving average is $31.77.

Institutional Trading of Adams Resources & Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Adams Resources & Energy by 118.5% during the third quarter. Barclays PLC now owns 1,934 shares of the company’s stock worth $52,000 after buying an additional 1,049 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Adams Resources & Energy during the 4th quarter worth about $93,000. Millennium Management LLC purchased a new position in Adams Resources & Energy during the 4th quarter valued at about $200,000. Ascension Capital Advisors Inc. acquired a new position in Adams Resources & Energy in the 4th quarter valued at about $201,000. Finally, Net Worth Advisory Group purchased a new stake in Adams Resources & Energy during the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 57.81% of the company’s stock.

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.