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

StockNews.com assumed coverage on shares of Adams Resources & Energy (NYSE:AE) in a research note issued on Saturday. The firm set a “buy” rating on the stock.

Adams Resources & Energy Stock Performance

Shares of AE stock opened at $37.98 on Friday. The firm’s 50-day simple moving average is $37.94 and its 200-day simple moving average is $34.12. 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 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 P/E ratio of -12.02 and a beta of 0.83.

Institutional Trading of Adams Resources & Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its holdings in Adams Resources & Energy by 118.5% in 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 during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Adams Resources & Energy during the 4th quarter worth about $93,000. Millennium Management LLC acquired a new stake in Adams Resources & Energy during the 4th quarter worth approximately $200,000. Ascension Capital Advisors Inc. purchased a new position in Adams Resources & Energy in the fourth quarter valued at approximately $201,000. Finally, Net Worth Advisory Group acquired a new position in Adams Resources & Energy during the fourth quarter valued at approximately $209,000. 57.81% of the stock is currently owned by institutional investors and hedge funds.

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.