Adams Resources & Energy (NYSE:AE) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Adams Resources & Energy (NYSE:AE) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

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

Adams Resources & Energy Stock Performance

NYSE:AE opened at $37.41 on Thursday. The firm has a market capitalization of $96.14 million, a PE ratio of -11.84 and a beta of 0.84. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. Adams Resources & Energy has a 12-month low of $22.30 and a 12-month high of $37.90. The firm has a 50-day moving average price of $37.09 and a 200 day moving average price of $29.65.

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). Adams Resources & Energy had a negative return on equity of 8.14% and a negative net margin of 0.29%. The company had revenue of $695.16 million during the quarter, compared to analyst estimates of $649.00 million. Research analysts anticipate that Adams Resources & Energy will post -2.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adams Resources & Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Bard Associates Inc. increased its stake 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 valued at $336,000 after buying an additional 1,443 shares in the last quarter. Empowered Funds LLC grew its holdings in 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. Cerity Partners LLC increased its position in 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. Round Hill Asset Management raised its stake 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 worth $620,000 after acquiring an additional 9,587 shares during the last quarter. Finally, Wittenberg Investment Management Inc. lifted its position 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 in the last quarter. 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.