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

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

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

Adams Resources & Energy Price Performance

Shares of NYSE:AE opened at $37.36 on Thursday. The company has a market cap of $96.16 million, a price-to-earnings ratio of -11.82 and a beta of 0.84. The business has a 50 day moving average price of $36.69 and a 200 day moving average price of $29.53. 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 twelve month low of $22.30 and a twelve month high of $37.90.

Adams Resources & Energy (NYSE:AE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $695.16 million during the quarter, compared to the consensus estimate of $649.00 million. Research analysts predict that Adams Resources & Energy will post -2.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Adams Resources & Energy by 118.5% in the 3rd quarter. Barclays PLC now owns 1,934 shares of the company’s stock valued at $52,000 after buying an additional 1,049 shares in the last quarter. Cerity Partners LLC raised 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 purchasing an additional 10,977 shares in the last quarter. Geode Capital Management LLC lifted its stake in Adams Resources & Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 25,124 shares of the company’s stock worth $679,000 after purchasing an additional 1,916 shares during the period. Empowered Funds LLC boosted its holdings in Adams Resources & Energy by 5.3% during the third quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock valued at $501,000 after purchasing an additional 938 shares in the last quarter. Finally, Wittenberg Investment Management Inc. grew its stake in shares of Adams Resources & Energy by 1.6% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after purchasing an additional 339 shares during the period. 57.81% of the stock is owned by institutional investors.

About Adams Resources & Energy

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.