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

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

Separately, B. Riley restated a “neutral” rating and issued 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 company has a market cap of $96.37 million, a P/E ratio of -11.85 and a beta of 0.84. Adams Resources & Energy has a twelve month low of $22.30 and a twelve month high of $37.90. The company’s 50-day moving average price is $35.71 and its 200-day moving average price is $29.15. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17.

Adams Resources & Energy (NYSE:AE) last issued its earnings results on Tuesday, November 12th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $649.00 million. On average, sell-side analysts forecast that Adams Resources & Energy will post -2.65 earnings per share for the current fiscal year.

Adams Resources & Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders 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 2.56%. The ex-dividend date was Friday, December 6th. Adams Resources & Energy’s dividend payout ratio (DPR) is currently -30.38%.

Hedge Funds Weigh In On Adams Resources & Energy

A number of hedge funds have recently modified their holdings of AE. Barclays PLC raised its stake 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 purchasing an additional 1,049 shares during the last quarter. Bard Associates Inc. raised its position in 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 buying an additional 1,443 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Adams Resources & Energy by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after acquiring an additional 938 shares during the period. Cerity Partners LLC boosted its holdings 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 acquiring an additional 10,977 shares in the last quarter. Finally, Wittenberg Investment Management Inc. increased its stake 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 worth $576,000 after acquiring an additional 339 shares during the period. 57.81% of the stock is currently 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.