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

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

Separately, B. Riley reiterated a “neutral” rating and set 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 Stock Up 0.1 %

AE traded up $0.05 during trading hours on Thursday, reaching $37.20. 5,317 shares of the stock traded hands, compared to its average volume of 9,106. The firm’s fifty day simple moving average is $28.03 and its two-hundred day simple moving average is $26.60. The company has a market cap of $95.98 million, a price-to-earnings ratio of -11.77 and a beta of 0.79. Adams Resources & Energy has a fifty-two week low of $22.30 and a fifty-two week high of $37.90. 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) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $695.16 million for the quarter, compared to the consensus estimate of $649.00 million. As a group, analysts forecast that Adams Resources & Energy will post -2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AE. Barclays PLC increased its stake in Adams Resources & Energy by 118.5% during 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 during the period. Bard Associates Inc. grew its stake in shares of Adams Resources & Energy by 13.1% in the 3rd quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock worth $336,000 after purchasing an additional 1,443 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of 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 during the period. Cerity Partners LLC boosted its holdings in shares of 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 during the period. Finally, Wittenberg Investment Management Inc. boosted its holdings in shares of Adams Resources & Energy by 1.6% in the third quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock worth $576,000 after buying an additional 339 shares during the period. 57.81% of the stock is currently 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.