Aegean Marine Petroleum Network Inc. (ANW) Rating Lowered to Sell at Zacks Investment Research
Aegean Marine Petroleum Network Inc. (NYSE:ANW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
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. “
A number of other analysts have also recently weighed in on ANW. Stifel Nicolaus dropped their price objective on shares of Aegean Marine Petroleum Network from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Aegean Marine Petroleum Network in a report on Friday, August 11th. ValuEngine upgraded shares of Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Clarkson Capital upgraded shares of Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $7.33.
Aegean Marine Petroleum Network (NYSE:ANW) remained flat at $$3.75 on Friday. 323,600 shares of the company’s stock were exchanged, compared to its average volume of 642,944. The stock has a market capitalization of $152.38, a price-to-earnings ratio of 3.50 and a beta of 2.17. Aegean Marine Petroleum Network has a one year low of $3.26 and a one year high of $13.10. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.85 and a quick ratio of 1.43.
Aegean Marine Petroleum Network (NYSE:ANW) last issued 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. Aegean Marine Petroleum Network had a net margin of 0.56% and a return on equity of 7.97%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 45.9% compared to the same quarter last year. sell-side analysts expect that Aegean Marine Petroleum Network will post 0.25 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Granite Investment Partners LLC purchased a new stake in shares of Aegean Marine Petroleum Network in the third quarter worth approximately $871,000. Dynamic Technology Lab Private Ltd bought a new position in Aegean Marine Petroleum Network during the third quarter valued at approximately $115,000. Macquarie Group Ltd. bought a new position in Aegean Marine Petroleum Network during the third quarter valued at approximately $109,000. Ameriprise Financial Inc. raised its position in Aegean Marine Petroleum Network by 7.8% during the third quarter. Ameriprise Financial Inc. now owns 2,876,743 shares of the oil and gas company’s stock valued at $14,239,000 after acquiring an additional 208,551 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Aegean Marine Petroleum Network by 2.3% during the third quarter. American Century Companies Inc. now owns 533,385 shares of the oil and gas company’s stock valued at $2,640,000 after acquiring an additional 11,824 shares in the last quarter. 69.94% 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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