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

Equities research analysts at StockNews.com started coverage on shares of Adams Resources & Energy (NYSE:AE) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the stock.

Adams Resources & Energy Price Performance

Shares of Adams Resources & Energy stock opened at $37.98 on Friday. The business has a 50-day moving average of $37.88 and a 200-day moving average of $33.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.04 and a quick ratio of 0.89. The company has a market capitalization of $97.61 million, a PE ratio of -12.02 and a beta of 0.83. Adams Resources & Energy has a 1-year low of $22.30 and a 1-year high of $38.00.

Institutional Trading of Adams Resources & Energy

Large investors have recently modified their holdings of the business. Barclays PLC grew its stake in shares of 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 acquiring an additional 1,049 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Adams Resources & Energy during the fourth quarter worth about $93,000. Millennium Management LLC bought a new position in shares of Adams Resources & Energy during the fourth quarter worth about $200,000. Ascension Capital Advisors Inc. bought a new position in shares of Adams Resources & Energy during the fourth quarter worth about $201,000. Finally, Net Worth Advisory Group bought a new position in shares of Adams Resources & Energy during the fourth quarter worth about $209,000. 57.81% of the stock is currently owned by institutional investors and hedge funds.

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.