Adams Resources & Energy (NYSE:AE) Coverage Initiated at StockNews.com

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

Separately, B. Riley reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Adams Resources & Energy in a report 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 $37.57 and a 200-day moving average price of $31.30. 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 Trading of Adams Resources & Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chicago Capital Management LLC purchased a new position in shares of Adams Resources & Energy during the 4th quarter valued at approximately $3,648,000. Cigogne Management SA purchased a new position in Adams Resources & Energy during the fourth quarter valued at $1,809,000. Credit Industriel ET Commercial acquired a new stake in shares of Adams Resources & Energy in the fourth quarter valued at about $1,330,000. First Wilshire Securities Management Inc. increased its stake in shares of Adams Resources & Energy by 2.9% during the fourth quarter. First Wilshire Securities Management Inc. now owns 32,821 shares of the company’s stock worth $1,239,000 after purchasing an additional 932 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Adams Resources & Energy by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 25,765 shares of the company’s stock worth $973,000 after purchasing an additional 641 shares in the last quarter. 57.81% of the stock is currently owned by hedge funds and other institutional investors.

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.