Adams Resources & Energy (NYSE:AE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Adams Resources & Energy (NYSE:AE) from a hold rating to a buy rating in a research note issued to investors on Friday.

Separately, B. Riley dropped their price target on Adams Resources & Energy from $55.00 to $50.00 and set a buy rating on the stock in a research note on Friday, August 11th.

Adams Resources & Energy Price Performance

AE stock opened at $28.74 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.45. The firm has a market cap of $73.29 million, a price-to-earnings ratio of -15.21 and a beta of 0.85. The firm has a 50-day moving average of $32.48. Adams Resources & Energy has a 1 year low of $28.50 and a 1 year high of $61.84.

Adams Resources & Energy (NYSE:AE) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.59). Adams Resources & Energy had a negative net margin of 0.22% and a negative return on equity of 8.35%. The company had revenue of $760.61 million during the quarter, compared to analyst estimates of $700.06 million. On average, analysts expect that Adams Resources & Energy will post -1.53 EPS for the current year.

Adams Resources & Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 30th. Adams Resources & Energy’s dividend payout ratio is currently -50.79%.

Institutional Investors Weigh In On Adams Resources & Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in AE. Perritt Capital Management Inc. purchased a new stake in Adams Resources & Energy during the second quarter valued at about $105,000. Knightsbridge Asset Management LLC purchased a new stake in Adams Resources & Energy during the third quarter valued at about $300,000. Janney Montgomery Scott LLC purchased a new stake in Adams Resources & Energy during the second quarter valued at about $361,000. EA Series Trust purchased a new stake in Adams Resources & Energy during the second quarter valued at about $445,000. Finally, Northern Trust Corp grew its position in Adams Resources & Energy by 6.7% during the third quarter. Northern Trust Corp now owns 15,435 shares of the company’s stock valued at $520,000 after acquiring an additional 963 shares during the period. Hedge funds and other institutional investors own 61.71% of the company’s stock.

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.