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

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

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

Adams Resources & Energy Price Performance

NYSE AE opened at $37.50 on Thursday. The stock has a market cap of $96.38 million, a price-to-earnings ratio of -11.87 and a beta of 0.84. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $36.89 and its two-hundred day moving average is $29.59. Adams Resources & Energy has a 12 month low of $22.30 and a 12 month high of $37.90.

Adams Resources & Energy (NYSE:AE) last posted its quarterly 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). The business had revenue of $695.16 million during the quarter, compared to the consensus estimate of $649.00 million. Adams Resources & Energy had a negative return on equity of 8.14% and a negative net margin of 0.29%. As a group, research analysts anticipate that Adams Resources & Energy will post -2.65 earnings per share for the current year.

Adams Resources & Energy Announces Dividend

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

Institutional Trading of Adams Resources & Energy

A number of hedge funds have recently added to or reduced their stakes in AE. Bard Associates Inc. lifted its position in shares of Adams Resources & Energy by 13.1% during the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock valued at $336,000 after buying an additional 1,443 shares during the last quarter. Empowered Funds LLC increased its position 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 valued at $501,000 after acquiring an additional 938 shares during the period. Cerity Partners LLC increased 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 purchasing an additional 10,977 shares during the period. Round Hill Asset Management increased its holdings in Adams Resources & Energy by 71.6% in 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 during the period. Finally, Wittenberg Investment Management Inc. raised its holdings 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 purchasing an additional 339 shares during the last quarter. 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.