Aegean Marine Petroleum Network (ANW) Rating Lowered to Sell at Zacks Investment Research

Aegean Marine Petroleum Network (NYSE:ANW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, November 10th.

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. “

Several other research analysts have also weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $9.00 price target on shares of Aegean Marine Petroleum Network in a research report on Friday, July 21st. ValuEngine downgraded Aegean Marine Petroleum Network from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Clarkson Capital upgraded 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 note on Friday, August 11th. Finally, Jefferies Group restated 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. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $7.00.

Shares of Aegean Marine Petroleum Network (NYSE:ANW) traded up $0.10 during trading on Friday, reaching $4.15. The company had a trading volume of 558,200 shares, compared to its average volume of 642,114. Aegean Marine Petroleum Network has a 1-year low of $3.20 and a 1-year high of $13.10. The firm has a market cap of $158.50, a price-to-earnings ratio of 6.39 and a beta of 2.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.19 and a current ratio of 1.56.

Aegean Marine Petroleum Network (NYSE:ANW) last posted its quarterly earnings results on Wednesday, November 15th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.20). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Aegean Marine Petroleum Network had a return on equity of 4.26% and a net margin of 0.28%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. analysts anticipate that Aegean Marine Petroleum Network will post 0.01 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Senvest Management LLC lifted its position in shares of Aegean Marine Petroleum Network by 3.0% during the 3rd quarter. Senvest Management LLC now owns 5,445,894 shares of the oil and gas company’s stock valued at $26,957,000 after acquiring an additional 161,000 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Aegean Marine Petroleum Network by 7.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,876,743 shares of the oil and gas company’s stock worth $14,239,000 after buying an additional 208,551 shares in the last quarter. Schneider Capital Management Corp raised its holdings in shares of Aegean Marine Petroleum Network by 4.1% during the 2nd quarter. Schneider Capital Management Corp now owns 1,959,528 shares of the oil and gas company’s stock worth $11,463,000 after buying an additional 77,800 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Aegean Marine Petroleum Network by 77.8% during the 2nd quarter. Franklin Resources Inc. now owns 930,000 shares of the oil and gas company’s stock worth $5,441,000 after buying an additional 407,000 shares in the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of Aegean Marine Petroleum Network by 36.6% during the 2nd quarter. Global X Management Co. LLC now owns 710,826 shares of the oil and gas company’s stock worth $4,158,000 after buying an additional 190,471 shares in the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.

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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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