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

Adams Resources & Energy, Inc. (NYSE:AE) shares fell 2.9% on Friday . The company 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AE. Singular Research reissued a “buy” rating on shares of Adams Resources & Energy in a research report on Thursday, March 28th. StockNews.com raised shares of Adams Resources & Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 15th.

Adams Resources & Energy Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $27.77 and a two-hundred day simple moving average of $27.21.

Adams Resources & Energy (NYSE:AE) last posted its earnings results on Wednesday, March 13th. The company reported ($0.02) earnings per share for the quarter. Adams Resources & Energy had a negative return on equity of 5.23% and a net margin of 0.01%. The business had revenue of $709.75 million for the quarter, compared to the consensus estimate of $662.93 million. On average, analysts forecast 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 declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.42%. The ex-dividend date was Thursday, March 7th. Adams Resources & Energy’s dividend payout ratio (DPR) is currently 1,371.62%.

Hedge Funds Weigh In On Adams Resources & Energy

Large investors have recently modified their holdings of the company. Wittenberg Investment Management Inc. raised its holdings in shares of Adams Resources & Energy by 2.5% in the third quarter. Wittenberg Investment Management Inc. now owns 16,203 shares of the company’s stock valued at $546,000 after purchasing an additional 400 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Adams Resources & Energy by 112.2% during the third 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 period. Perritt Capital Management Inc. boosted its position in Adams Resources & Energy by 33.3% in the third quarter. Perritt Capital Management Inc. now owns 4,000 shares of the company’s stock worth $135,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Knightsbridge Asset Management LLC bought a new stake in shares of Adams Resources & Energy during the 3rd quarter worth $300,000. 57.81% of the stock is currently owned by institutional investors.

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.