Adams Resources & Energy Stock (AMEX: AE)

Adams Resources & Energy (AMEX:AE) Stock, Quote.Headers.trade-ideas

Adams Resources & Energy

Adams Resources & Energy Inc is engaged in the crude oil marketing, truck and pipeline transportation of crude oil, and terminalling and storage in various crude oil and natural gas basins. The company operates through four segments: Crude oil marketing, transportation, and storage; Tank truck transportation of liquid chemicals and dry bulk; Pipeline transportation, terminalling, and storage of crude oil; and Interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil, and other chemicals.

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Adams Resources & Energy, Inc. Common Stock

Adams Resources & Energy Inc

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Adams Resources &amp; Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AE#NYSE">AE</a>) (&quot;Adams&quot; or the &quot;Company&quot;) announced today that its stockholders have voted at a special meeting of the Company&#39;s stockholders (the &quot;Special Meeting&quot;) to approve the pending acquisition of the Company by an affiliate of Tres Energy LLC. Under the terms of the merger agreement that was approved at the Special Meeting, Adams stockholders will receive $38.00 per share in cash for each share of Adams common stock they own immediately prior to the effective time of the merger.
Approximately 77% of the Company&#39;s outstanding shares were voted at the Special Meeting, and the merger was approved by over 76% of the Company&#39;s outstanding shares. The final voting results on the proposals voted on at the Special Meeting will be set forth in a Form 8-K that will be filed by the Company with the U.S. Securities and Exchange Commission (the &quot;SEC&quot;).
The merger is expected to close in early February 2025, subject to customary closing conditions.

Adams Resources & Energy Stockholders Approve Acquisition By An Affiliate Of Tres Energy For $38.00 Per Share In Cash; Merger Is Expected To Close In Early February 2025

Legal

Adams Resources & Energy Faces Two Lawsuits Over Merger Disclosures; Believes Claims Asserted In Litigation Matters Are Without Merit

As of Dec. 23, 2024, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Profire Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIE#NASDAQ">PFIE</a>)</h3>
<ul>
<li>On Nov. 6, Profire Energy posted in-line quarterly earnings. The company's stock surged around 79% over the past six months and has a <a href="https://www.benzinga.com/quote/PFIE">52-week high of $2.55</a>.</li>
<li>RSI Value: 70&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>PFIE Price Action: Shares of Profire Energy closed at $2.54 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Adams Resources &amp; Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AE#NYSE">AE</a>)</h3>
<ul>
<li>On Nov. 12, Adams Resources &amp; Energy posted better-than-expected quarterly sales. &#8220;We are encouraged by the increase in Adjusted EBITDA from crude oil marketing operations, as higher oil prices compared to the prior-year quarter more than offset the lower volumes related to our exit of the Red River operations in the fourth quarter of 2023,&#8221; said Kevin Roycraft, President and CEO of the Company. The company's stock gained around 52% over the past six months and <a href="https://www.benzinga.com/quote/AE">has a 52-week high</a> of $37.90.</li>
<li>RSI Value: 76</li>
<li>AE Price Action: Shares of Adams Resources &amp; Energy closed at $37.30 on Friday.</li>
</ul>
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B. Riley Securities analyst Liam Burke downgrades Adams Resources &amp; Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AE#AMEX">AE</a>) from Buy to Neutral and lowers the price target from $45 to $38.

Downgrades

Price Target

Analyst Ratings

B. Riley Securities Downgrades Adams Resources & Energy to Neutral, Lowers Price Target to $38

Adams Resources &amp; Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AE#AMEX">AE</a>) reported quarterly losses of $(1.76) per share which missed the analyst consensus estimate of $(0.28) by 528.57 percent. The company reported quarterly sales of $695.163 million which beat the analyst consensus estimate of $654.996 million by 6.13 percent. This is a 8.61 percent decrease over sales of $760.614 million the same period last year.

Earnings Beats

Earnings Misses

Adams Resources & Energy Q3 2024 GAAP EPS $(1.76) Misses $(0.28) Estimate, Sales $695.163M Beat $654.996M Estimate

WIIM

General

Adams Resources & Energy shares are trading higher after the company announced it will be acquired by Tres Energy Affiliate.

Adams Resources & Energy To Be Acquired By Tres Energy Affiliate In $138.9M All-Cash Deal; Shareholders To Receive $38 Per Share, A 39% Premium

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