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

Research analysts at StockNews.com began coverage on shares of Adams Resources & Energy (NYSE:AE) in a report issued on Monday. The brokerage set a “buy” rating on the stock.

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

Adams Resources & Energy Price Performance

NYSE:AE opened at $37.98 on Monday. 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 50 day moving average price of $37.55 and a 200-day moving average price of $31.23. Adams Resources & Energy has a 1-year low of $22.30 and a 1-year high of $38.00. The firm has a market cap of $97.61 million, a price-to-earnings ratio of -12.02 and a beta of 0.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AE. Northern Trust Corp increased its holdings in Adams Resources & Energy by 11.0% in the 4th quarter. Northern Trust Corp now owns 24,026 shares of the company’s stock worth $907,000 after acquiring an additional 2,379 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in shares of Adams Resources & Energy in the fourth quarter valued at about $372,000. Credit Industriel ET Commercial purchased a new stake in shares of Adams Resources & Energy during the fourth quarter worth about $1,330,000. Cigogne Management SA acquired a new position in shares of Adams Resources & Energy during the 4th quarter worth about $1,809,000. Finally, Hsbc Holdings PLC purchased a new position in Adams Resources & Energy in the 4th quarter valued at about $230,000. Hedge funds and other institutional investors own 57.81% of the company’s stock.

About Adams Resources & Energy

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.