Aegean Marine Petroleum Network Inc. (ANW) Posts Quarterly Earnings Results
Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced its earnings results on Tuesday. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.33. Aegean Marine Petroleum Network had a return on equity of 9.48% and a net margin of 1.20%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $0.24 EPS. Aegean Marine Petroleum Network’s quarterly revenue was up 102.4% on a year-over-year basis.
Aegean Marine Petroleum Network (NYSE:ANW) traded down 38.10% during midday trading on Wednesday, reaching $6.50. 6,407,945 shares of the company’s stock traded hands. Aegean Marine Petroleum Network has a 52-week low of $5.00 and a 52-week high of $13.10. The stock has a market cap of $244.48 million, a P/E ratio of 5.70 and a beta of 2.86. The company’s 50-day moving average price is $10.98 and its 200-day moving average price is $10.79.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, June 2nd. Aegean Marine Petroleum Network’s dividend payout ratio (DPR) is currently 8.60%.
An institutional investor recently raised its position in Aegean Marine Petroleum Network stock. State Street Corp increased its stake in Aegean Marine Petroleum Network Inc. (NYSE:ANW) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,708 shares of the oil and gas company’s stock after buying an additional 2,212 shares during the period. State Street Corp owned 0.06% of Aegean Marine Petroleum Network worth $220,000 as of its most recent filing with the SEC. Institutional investors own 70.50% of the company’s stock.
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Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Aegean Marine Petroleum Network from a “sell” rating to a “hold” rating in a research note on Tuesday, February 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target (up from $17.00) on shares of Aegean Marine Petroleum Network in a research note on Saturday, March 11th. Finally, Clarkson Capital raised shares of Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating in a research note on Friday, March 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Aegean Marine Petroleum Network presently has a consensus rating of “Hold” and a consensus price target of $11.67.
About Aegean Marine Petroleum Network
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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