Aegean Marine Petroleum Network Inc. (NYSE:ANW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Other research analysts also recently issued research reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Aegean Marine Petroleum Network in a research note on Friday, August 11th. Clarkson Capital raised Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Friday, August 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $9.00 price target on shares of Aegean Marine Petroleum Network in a research note on Friday, July 21st. Finally, ValuEngine raised Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $7.67.

Aegean Marine Petroleum Network (NYSE:ANW) remained flat at $4.50 during trading on Wednesday. 466,800 shares of the company’s stock were exchanged. Aegean Marine Petroleum Network has a 52 week low of $4.00 and a 52 week high of $13.10. The stock’s 50 day moving average price is $4.74 and its 200-day moving average price is $6.93. The company has a market capitalization of $182.85 million, a P/E ratio of 6.52 and a beta of 2.25.

Aegean Marine Petroleum Network (NYSE:ANW) last posted its earnings results on Thursday, August 10th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.10. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.29 billion. Aegean Marine Petroleum Network had a return on equity of 7.97% and a net margin of 0.56%. The company’s revenue was up 45.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that Aegean Marine Petroleum Network will post $0.46 EPS for the current year.

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Hedge funds have recently bought and sold shares of the stock. Karp Capital Management Corp acquired a new position in Aegean Marine Petroleum Network in the first quarter valued at about $152,000. Verition Fund Management LLC acquired a new position in Aegean Marine Petroleum Network in the second quarter valued at about $163,000. Virtu KCG Holdings LLC raised its stake in Aegean Marine Petroleum Network by 107.7% in the second quarter. Virtu KCG Holdings LLC now owns 30,364 shares of the oil and gas company’s stock valued at $178,000 after purchasing an additional 15,746 shares in the last quarter. Northern Trust Corp raised its stake in Aegean Marine Petroleum Network by 107.8% in the second quarter. Northern Trust Corp now owns 31,785 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 16,489 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Aegean Marine Petroleum Network in the first quarter valued at about $418,000. 70.57% of the stock is owned by institutional investors and hedge funds.

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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