Adams Resources & Energy (NYSE:AE) Shares Down 2.9%

Shares of Adams Resources & Energy, Inc. (NYSE:AE) fell 2.9% during mid-day trading on Friday . The stock traded as low as $28.07 and last traded at $28.07. 1,375 shares were traded during mid-day trading, a decline of 84% from the average session volume of 8,479 shares. The stock had previously closed at $28.90.

Analysts Set New Price Targets

AE has been the subject of a number of recent research reports. StockNews.com raised Adams Resources & Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 15th. Singular Research restated a “buy” rating on shares of Adams Resources & Energy in a research report on Thursday, March 28th.

Adams Resources & Energy Trading Down 2.9 %

The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $27.77 and a 200-day moving average price of $27.23. The firm has a market capitalization of $72.14 million, a PE ratio of 401.06 and a beta of 0.82.

Adams Resources & Energy (NYSE:AE) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $709.75 million during the quarter, compared to analysts’ expectations of $662.93 million. Adams Resources & Energy had a negative return on equity of 5.23% and a net margin of 0.01%. Analysts expect that Adams Resources & Energy, Inc. will post -0.48 earnings per share for the current year.

Adams Resources & Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 7th. Adams Resources & Energy’s dividend payout ratio is currently 1,371.62%.

Institutional Investors Weigh In On Adams Resources & Energy

Several institutional investors have recently modified their holdings of the company. Wittenberg Investment Management Inc. raised its stake in shares of Adams Resources & Energy by 14.8% during the 1st quarter. Wittenberg Investment Management Inc. now owns 20,976 shares of the company’s stock worth $608,000 after buying an additional 2,697 shares during the last quarter. Knightsbridge Asset Management LLC acquired a new position in Adams Resources & Energy during the third quarter worth about $300,000. Perritt Capital Management Inc. lifted its holdings in shares of Adams Resources & Energy by 33.3% in the third quarter. Perritt Capital Management Inc. now owns 4,000 shares of the company’s stock valued at $135,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Adams Resources & Energy by 112.2% in the third quarter. Ancora Advisors LLC now owns 24,614 shares of the company’s stock valued at $829,000 after purchasing an additional 13,015 shares in the last quarter. Hedge funds and other institutional investors own 57.81% 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.