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

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

Separately, B. Riley reiterated a “neutral” rating and set a $38.00 price target (down from $45.00) on shares of Adams Resources & Energy in a report on Wednesday, November 13th.

Adams Resources & Energy Stock Performance

NYSE AE opened at $37.98 on Tuesday. The stock has a market cap of $97.61 million, a PE ratio of -12.02 and a beta of 0.83. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. Adams Resources & Energy has a twelve month low of $22.30 and a twelve month high of $38.00. The stock has a fifty day simple moving average of $37.66 and a 200-day simple moving average of $31.87.

Hedge Funds Weigh In On Adams Resources & Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wittenberg Investment Management Inc. boosted its holdings in Adams Resources & Energy by 1.6% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after acquiring an additional 339 shares during the period. Geode Capital Management LLC boosted its holdings in Adams Resources & Energy by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 25,765 shares of the company’s stock valued at $973,000 after acquiring an additional 641 shares during the period. First Wilshire Securities Management Inc. boosted its holdings in Adams Resources & Energy by 2.9% during the 4th quarter. First Wilshire Securities Management Inc. now owns 32,821 shares of the company’s stock valued at $1,239,000 after acquiring an additional 932 shares during the period. Empowered Funds LLC boosted its holdings in Adams Resources & Energy by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock valued at $501,000 after acquiring an additional 938 shares during the period. Finally, Barclays PLC raised its position in Adams Resources & Energy by 118.5% in the 3rd quarter. Barclays PLC now owns 1,934 shares of the company’s stock valued at $52,000 after purchasing an additional 1,049 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.