StockNews.com Upgrades Adams Resources & Energy (NYSE:AE) to Strong-Buy

StockNews.com upgraded shares of Adams Resources & Energy (NYSE:AE) from a buy rating to a strong-buy rating in a research report released on Wednesday.

Separately, Singular Research reiterated a buy rating on shares of Adams Resources & Energy in a research note on Thursday, March 28th.

Adams Resources & Energy Price Performance

AE stock opened at $28.00 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.07 and a debt-to-equity ratio of 0.38. The firm has a market cap of $71.96 million, a price-to-earnings ratio of 41.79 and a beta of 0.78. The company’s fifty day simple moving average is $27.28 and its 200 day simple moving average is $26.38. Adams Resources & Energy has a 12-month low of $22.67 and a 12-month high of $37.30.

Adams Resources & Energy (NYSE:AE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.17. Adams Resources & Energy had a negative return on equity of 4.02% and a net margin of 0.06%. The company had revenue of $661.05 million for the quarter, compared to the consensus estimate of $555.03 million. On average, analysts expect that Adams Resources & Energy will post -0.53 earnings per share for the current year.

Adams Resources & Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Friday, June 14th. Adams Resources & Energy’s dividend payout ratio (DPR) is currently 143.28%.

Institutional Investors Weigh In On Adams Resources & Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Perritt Capital Management Inc. lifted its position in Adams Resources & Energy by 33.3% in the 3rd quarter. Perritt Capital Management Inc. now owns 4,000 shares of the company’s stock valued at $135,000 after acquiring an additional 1,000 shares in the last quarter. Knightsbridge Asset Management LLC bought a new stake in Adams Resources & Energy during the third quarter worth $300,000. Empowered Funds LLC grew its holdings in Adams Resources & Energy by 8.1% during the first quarter. Empowered Funds LLC now owns 16,344 shares of the company’s stock worth $474,000 after buying an additional 1,225 shares in the last quarter. Wittenberg Investment Management Inc. lifted its stake in Adams Resources & Energy by 12.8% during the 4th quarter. Wittenberg Investment Management Inc. now owns 18,279 shares of the company’s stock valued at $479,000 after acquiring an additional 2,076 shares in the last quarter. Finally, Ancora Advisors LLC boosted its holdings in Adams Resources & Energy by 112.2% during the 3rd quarter. Ancora Advisors LLC now owns 24,614 shares of the company’s stock worth $829,000 after acquiring an additional 13,015 shares during the last quarter. Institutional investors own 57.81% of the company’s stock.

Adams Resources & Energy Company Profile

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.