StockNews.com assumed coverage on shares of Adams Resources & Energy (NYSE:AE – Free Report) in a research note released on Friday morning. The brokerage issued a buy rating on the stock.
Separately, B. Riley reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Adams Resources & Energy in a report on Wednesday, November 13th.
Read Our Latest Research Report on AE
Adams Resources & Energy Stock Down 0.1 %
Adams Resources & Energy (NYSE:AE – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.76) EPS 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 analyst estimates of $649.00 million. Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. Research analysts predict that Adams Resources & Energy will post -2.65 EPS for the current year.
Adams Resources & Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 2.58%. Adams Resources & Energy’s dividend payout ratio is currently -30.38%.
Hedge Funds Weigh In On Adams Resources & Energy
Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its holdings 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 buying an additional 1,049 shares during the period. Bard Associates Inc. increased its position in shares of Adams Resources & Energy by 13.1% in the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock worth $336,000 after acquiring an additional 1,443 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Adams Resources & Energy by 5.3% during the third 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 lifted its position in shares of Adams Resources & Energy by 117.1% in the 3rd 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. boosted its stake in Adams Resources & Energy by 1.6% in the 3rd 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 period. Institutional investors and hedge funds 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.
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