Adams Resources & Energy (NYSE:AE) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Adams Resources & Energy (NYSE:AE) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Separately, Singular Research restated a buy rating on shares of Adams Resources & Energy in a research report on Thursday, March 28th.

Adams Resources & Energy Stock Up 6.1 %

Shares of AE stock opened at $26.63 on Wednesday. The stock has a market cap of $68.44 million, a P/E ratio of 39.75 and a beta of 0.78. Adams Resources & Energy has a 52 week low of $22.67 and a 52 week high of $37.30. The company has a quick ratio of 0.96, a current ratio of 1.07 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $27.34 and its two-hundred day simple moving average is $26.36.

Adams Resources & Energy (NYSE:AE) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.17. The business had revenue of $661.05 million for the quarter, compared to analysts’ expectations of $555.03 million. Adams Resources & Energy had a net margin of 0.06% and a negative return on equity of 4.02%. Analysts predict that Adams Resources & Energy will post -0.53 EPS for the current fiscal year.

Adams Resources & Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, June 14th. Adams Resources & Energy’s dividend payout ratio is 143.28%.

Institutional Trading of Adams Resources & Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in Adams Resources & Energy by 8.1% in the 1st quarter. Empowered Funds LLC now owns 16,344 shares of the company’s stock worth $474,000 after purchasing an additional 1,225 shares during the period. Wittenberg Investment Management Inc. grew its stake in Adams Resources & Energy by 14.8% in the 1st quarter. Wittenberg Investment Management Inc. now owns 20,976 shares of the company’s stock worth $608,000 after acquiring an additional 2,697 shares in the last quarter. Knightsbridge Asset Management LLC bought a new position in Adams Resources & Energy in the 3rd quarter worth about $300,000. Perritt Capital Management Inc. grew its stake in Adams Resources & Energy by 33.3% in the 3rd quarter. Perritt Capital Management Inc. now owns 4,000 shares of the company’s stock worth $135,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in Adams Resources & Energy by 112.2% in the 3rd quarter. Ancora Advisors LLC now owns 24,614 shares of the company’s stock worth $829,000 after acquiring an additional 13,015 shares in the last quarter. 57.81% of the stock is owned by hedge funds and other institutional investors.

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.