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

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

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

Adams Resources & Energy Stock Down 0.2 %

AE stock opened at $37.19 on Friday. The stock has a market capitalization of $95.95 million, a price-to-earnings ratio of -11.77 and a beta of 0.87. The company has a 50-day moving average of $30.94 and a two-hundred day moving average of $27.36. Adams Resources & Energy has a 52-week low of $22.30 and a 52-week high of $37.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.04 and a quick ratio of 0.89.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its position in Adams Resources & Energy by 118.5% during the 3rd quarter. Barclays PLC now owns 1,934 shares of the company’s stock worth $52,000 after purchasing an additional 1,049 shares during the last quarter. Geode Capital Management LLC grew its holdings in Adams Resources & Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 25,124 shares of the company’s stock worth $679,000 after buying an additional 1,916 shares in the last quarter. Wittenberg Investment Management Inc. lifted its position in shares of Adams Resources & Energy by 1.6% during the third 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. Round Hill Asset Management lifted its position in shares of Adams Resources & Energy by 71.6% during the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after buying an additional 9,587 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Adams Resources & Energy by 117.1% during 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 during the period. 57.81% of the stock is owned by institutional investors.

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.