Aegean Marine Petroleum Network Inc. (ANW) Raised to Strong-Buy at Zacks Investment Research
Aegean Marine Petroleum Network Inc. (NYSE:ANW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $12.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.15% from the stock’s previous close.
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 reiterated a “buy” rating on shares of Aegean Marine Petroleum Network in a report on Monday, August 1st.
Shares of Aegean Marine Petroleum Network (NYSE:ANW) traded down 1.38% during mid-day trading on Friday, reaching $10.70. The company had a trading volume of 676,463 shares. The company has a market capitalization of $542.44 million, a PE ratio of 12.74 and a beta of 2.88. The company’s 50-day moving average price is $9.19 and its 200-day moving average price is $7.98. Aegean Marine Petroleum Network has a 52-week low of $5.00 and a 52-week high of $11.41.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Monday, November 28th. Aegean Marine Petroleum Network’s dividend payout ratio (DPR) is 8.60%.
Large investors have recently added to or reduced their stakes in the stock. DW Partners LP purchased a new stake in Aegean Marine Petroleum Network during the third quarter worth about $1,994,000. Acadian Asset Management LLC boosted its stake in Aegean Marine Petroleum Network by 66.8% in the third quarter. Acadian Asset Management LLC now owns 2,027,718 shares of the company’s stock worth $20,279,000 after buying an additional 812,390 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in Aegean Marine Petroleum Network during the third quarter worth about $5,100,000. Towle & Co. boosted its stake in Aegean Marine Petroleum Network by 22.8% in the second quarter. Towle & Co. now owns 2,172,838 shares of the company’s stock worth $11,951,000 after buying an additional 403,020 shares during the period. Finally, BlackRock Inc. purchased a new stake in Aegean Marine Petroleum Network during the second quarter worth about $2,195,000. Institutional investors own 69.25% of the company’s stock.
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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