Geode Capital Management LLC Boosts Position in Adams Resources & Energy, Inc. (NYSE:AE)

Geode Capital Management LLC boosted its position in shares of Adams Resources & Energy, Inc. (NYSE:AE) by 8.3% in the third quarter, Holdings Channel reports. The fund owned 25,124 shares of the company’s stock after purchasing an additional 1,916 shares during the quarter. Geode Capital Management LLC’s holdings in Adams Resources & Energy were worth $679,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Round Hill Asset Management increased its position in Adams Resources & Energy by 71.6% during the third quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock valued at $620,000 after acquiring an additional 9,587 shares during the last quarter. Wittenberg Investment Management Inc. increased its position in Adams Resources & Energy by 1.6% during the third quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after acquiring an additional 339 shares during the last quarter. Cerity Partners LLC increased its position in Adams Resources & Energy by 117.1% in the third quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock worth $549,000 after buying an additional 10,977 shares in the last quarter. Empowered Funds LLC increased its position in Adams Resources & Energy by 5.3% in the third quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after buying an additional 938 shares in the last quarter. Finally, Bard Associates Inc. increased its position in 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 buying an additional 1,443 shares in the last quarter. Hedge funds and other institutional investors own 57.81% of the company’s stock.

Adams Resources & Energy Price Performance

NYSE:AE opened at $37.25 on Friday. The firm has a market capitalization of $95.88 million, a price-to-earnings ratio of -11.79 and a beta of 0.84. Adams Resources & Energy, Inc. has a 1 year low of $22.30 and a 1 year high of $37.90. The business has a 50 day simple moving average of $36.11 and a 200-day simple moving average of $29.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.04 and a quick ratio of 0.89.

Adams Resources & Energy (NYSE:AE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($1.20). The company had revenue of $695.16 million during the quarter, compared to the consensus estimate of $649.00 million. Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. Equities analysts forecast that Adams Resources & Energy, Inc. will post -2.65 EPS for the current year.

Adams Resources & Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.24 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.58%. Adams Resources & Energy’s payout ratio is -30.38%.

Analysts Set New Price Targets

AE has been the subject of a number of research reports. StockNews.com initiated coverage on Adams Resources & Energy in a research note on Wednesday. They set a “buy” rating for the company. 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 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.