Adams Resources & Energy (NYSE:AE) Earns Buy Rating from Analysts at StockNews.com

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

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

Adams Resources & Energy Price Performance

Shares of NYSE:AE opened at $37.33 on Friday. The business’s 50 day moving average is $32.10 and its 200-day moving average is $27.80. 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 firm has a market capitalization of $96.09 million, a PE ratio of -11.79 and a beta of 0.87. Adams Resources & Energy has a 1-year low of $22.30 and a 1-year high of $37.90.

Adams Resources & Energy (NYSE:AE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $695.16 million during the quarter, compared to analyst estimates of $649.00 million. Sell-side analysts predict that Adams Resources & Energy will post -2.65 earnings per share for the current year.

Adams Resources & Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 dividend yield of 2.57%. Adams Resources & Energy’s dividend payout ratio is currently -30.38%.

Institutional Trading of Adams Resources & Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bard Associates Inc. increased its holdings in Adams Resources & Energy by 13.1% during the third 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 grew its holdings in Adams Resources & Energy by 5.3% during the third quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after purchasing an additional 938 shares during the period. Cerity Partners LLC increased its holdings in shares of Adams Resources & Energy by 117.1% during the 3rd quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock worth $549,000 after acquiring an additional 10,977 shares during the last quarter. Round Hill Asset Management raised its position in shares of Adams Resources & Energy by 71.6% in 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 period. Finally, Wittenberg Investment Management Inc. raised its position 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 purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 57.81% of the company’s stock.

About Adams Resources & Energy

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.