Aegean Marine Petroleum Network Inc. (ANW) Downgraded by Zacks Investment Research to Hold
Aegean Marine Petroleum Network Inc. (NYSE:ANW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “AEGEAN MARINE PETROLEUM is a marine fuel logistics company that physically supplies and markets refined marine fuel and lubricants to ships in port and at sea. They intends to focus on growing its fleet of double hull bunkering tankers and expanding its service centers in strategic locations worldwide to further enhance the Companys extensive customer relationships and leading industry position. “
Separately, Jefferies Group reaffirmed a “buy” rating on shares of Aegean Marine Petroleum Network in a research note on Monday, August 29th.
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Shares of Aegean Marine Petroleum Network (NYSE:ANW) traded up 3.12% during trading on Tuesday, hitting $9.57. 148,598 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $9.92 and a 200-day moving average price of $7.78. The stock has a market cap of $485.15 million, a P/E ratio of 11.39 and a beta of 2.60. Aegean Marine Petroleum Network has a one year low of $5.00 and a one year high of $11.41.
Aegean Marine Petroleum Network (NYSE:ANW) last posted its earnings results on Wednesday, August 10th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Aegean Marine Petroleum Network had a net margin of 1.11% and a return on equity of 8.36%. The firm had revenue of $987.60 million for the quarter, compared to the consensus estimate of $870.85 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was down 18.2% on a year-over-year basis. Equities research analysts expect that Aegean Marine Petroleum Network will post $1.24 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in ANW. BB&T Securities LLC boosted its position in Aegean Marine Petroleum Network by 186.9% in the second quarter. BB&T Securities LLC now owns 155,523 shares of the company’s stock worth $855,000 after buying an additional 101,320 shares in the last quarter. BlackRock Institutional Trust Company N.A. purchased a new position in Aegean Marine Petroleum Network during the first quarter worth approximately $160,000. Systematic Financial Management LP boosted its position in Aegean Marine Petroleum Network by 72.1% in the second quarter. Systematic Financial Management LP now owns 266,345 shares of the company’s stock worth $1,464,000 after buying an additional 111,560 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Aegean Marine Petroleum Network during the second quarter worth approximately $144,000. Finally, GSA Capital Partners LLP boosted its position in Aegean Marine Petroleum Network by 6.1% in the second quarter. GSA Capital Partners LLP now owns 342,402 shares of the company’s stock worth $1,883,000 after buying an additional 19,565 shares in the last quarter. 69.07% of the stock is owned by hedge funds and other institutional investors.
Aegean Marine Petroleum Network Company Profile
Aegean Marine Petroleum Network Inc is an international marine fuel logistics company. The Company markets and physically supplies refined marine fuel and lubricants to vessels in port, at sea and on rivers. As a physical supplier, the Company procures marine fuel from refineries, oil producers and other sources, and resells and delivers these fuels from its bunkering vessels to a range of end users.
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