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

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

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

Adams Resources & Energy Price Performance

Shares of Adams Resources & Energy stock opened at $37.90 on Friday. The stock has a 50 day moving average of $37.34 and a 200 day moving average of $30.02. Adams Resources & Energy has a 12 month low of $22.30 and a 12 month high of $38.00. The firm has a market cap of $97.40 million, a PE ratio of -11.99 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.

Adams Resources & Energy (NYSE:AE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.76) EPS 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 firm had revenue of $695.16 million for the quarter, compared to the consensus estimate of $649.00 million. On average, research analysts expect that Adams Resources & Energy will post -2.65 EPS for the current fiscal year.

Adams Resources & Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, December 6th. Adams Resources & Energy’s payout ratio is -30.38%.

Institutional Investors Weigh In On Adams Resources & Energy

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Adams Resources & Energy by 8.3% in the 3rd 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. Round Hill Asset Management lifted its stake in shares of Adams Resources & Energy by 71.6% during the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after acquiring an additional 9,587 shares during the last quarter. Wittenberg Investment Management Inc. lifted its stake in shares of Adams Resources & Energy by 1.6% during the 3rd 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 last quarter. Cerity Partners LLC lifted its stake 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. Finally, Empowered Funds LLC lifted its stake in shares of Adams Resources & Energy by 5.3% during 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 last quarter. 57.81% of the stock is owned by institutional investors.

Adams Resources & Energy Company Profile

Adams Resources & Energy, Inc engages in the business of crude oil marketing, transportation and storage in various crude oil and natural gas basins. It operates through the following segments: crude oil marketing, transportation and storage, tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk, and pipeline transportation, terminalling and storage of crude oil.