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

StockNews.com initiated coverage on shares of Adams Resources & Energy (NYSE:AE) in a report published on Monday. The brokerage issued a buy rating on the stock.

Separately, B. Riley reissued a “neutral” rating and set a $38.00 price target (down 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 $37.25 on Monday. Adams Resources & Energy has a 52 week low of $22.30 and a 52 week high of $37.90. 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 business has a 50 day moving average price of $33.12 and a 200-day moving average price of $28.18. The company has a market cap of $95.88 million, a PE ratio of -11.79 and a beta of 0.87.

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 analysts’ consensus estimates of ($0.56) by ($1.20). The company had revenue of $695.16 million during the quarter, compared to analysts’ expectations of $649.00 million. Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. Equities analysts anticipate that Adams Resources & Energy will post -2.65 earnings per share for the current fiscal year.

Adams Resources & Energy Announces Dividend

The firm also recently declared 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, December 6th. Adams Resources & Energy’s payout ratio is -30.38%.

Hedge Funds Weigh In On Adams Resources & Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in AE. Cerity Partners LLC lifted its stake in 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 last quarter. Empowered Funds LLC increased its position in Adams Resources & Energy by 5.3% in the third quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after buying an additional 938 shares during the last quarter. Wittenberg Investment Management Inc. raised its stake in shares of Adams Resources & Energy by 1.6% in the third quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after buying an additional 339 shares during the period. 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 valued at $620,000 after buying an additional 9,587 shares during the last quarter. Finally, 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 worth $336,000 after acquiring an additional 1,443 shares during the period. 57.81% of the stock is owned by hedge funds and other institutional investors.

Adams Resources & Energy Company Profile

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.