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 research report sent to investors on Saturday morning. The firm issued a buy rating on the stock.

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

Adams Resources & Energy Stock Performance

Shares of NYSE AE opened at $37.19 on Friday. 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 stock has a market capitalization of $95.95 million, a price-to-earnings ratio of -11.77 and a beta of 0.87. The stock’s fifty day simple moving average is $30.94 and its 200 day simple moving average is $27.37. Adams Resources & Energy has a 52-week low of $22.30 and a 52-week high of $37.90.

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 analysts’ consensus estimates of ($0.56) by ($1.20). The company had revenue of $695.16 million during the quarter, compared to analyst estimates 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, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.58%. Adams Resources & Energy’s dividend payout ratio is -30.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC boosted its position in Adams Resources & Energy by 117.1% during 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. Round Hill Asset Management boosted its position in Adams Resources & Energy by 71.6% during the third quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock valued at $620,000 after purchasing an additional 9,587 shares during the last quarter. Geode Capital Management LLC boosted its position 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 valued at $679,000 after purchasing an additional 1,916 shares during the last quarter. Bard Associates Inc. boosted its position in 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 purchasing an additional 1,443 shares during the last quarter. Finally, Barclays PLC boosted its position in Adams Resources & Energy by 118.5% during the third quarter. Barclays PLC now owns 1,934 shares of the company’s stock valued at $52,000 after purchasing an additional 1,049 shares during the last quarter. Hedge funds and other institutional investors own 57.81% of the company’s stock.

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.