ValuEngine lowered shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) from a buy rating to a hold rating in a report released on Friday.

Several other research firms have also recently weighed in on ANW. Clarkson Capital cut Aegean Marine Petroleum Network from a buy rating to a neutral rating and cut their price objective for the stock from $16.00 to $8.00 in a research report on Wednesday, May 24th. Stifel Nicolaus cut Aegean Marine Petroleum Network from a buy rating to a hold rating and cut their price objective for the stock from $18.00 to $9.00 in a research report on Wednesday, May 24th. Zacks Investment Research cut Aegean Marine Petroleum Network from a buy rating to a hold rating in a research report on Tuesday, May 9th. Jefferies Group LLC reissued a buy rating and issued a $8.00 price objective on shares of Aegean Marine Petroleum Network in a research report on Friday, August 11th. Finally, TheStreet cut Aegean Marine Petroleum Network from a b- rating to a c rating in a research report on Thursday, May 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $8.75.

Shares of Aegean Marine Petroleum Network (NYSE ANW) opened at 5.00 on Friday. The company has a 50-day moving average price of $4.96 and a 200-day moving average price of $8.13. Aegean Marine Petroleum Network has a 1-year low of $4.20 and a 1-year high of $13.10. The company has a market cap of $203.17 million, a PE ratio of 7.25 and a beta of 2.21.

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

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The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be paid a $0.02 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.08 annualized dividend and a dividend yield of 1.60%. Aegean Marine Petroleum Network’s payout ratio is presently 11.43%.

Institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. raised its stake in shares of Aegean Marine Petroleum Network by 65.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,668,192 shares of the oil and gas company’s stock valued at $15,609,000 after purchasing an additional 1,058,187 shares during the period. Senvest Management LLC raised its stake in shares of Aegean Marine Petroleum Network by 19.5% during the 2nd quarter. Senvest Management LLC now owns 5,284,894 shares of the oil and gas company’s stock valued at $30,917,000 after purchasing an additional 862,860 shares during the period. Park West Asset Management LLC bought a new stake in shares of Aegean Marine Petroleum Network during the 1st quarter valued at $7,742,000. Raging Capital Management LLC raised its stake in shares of Aegean Marine Petroleum Network by 78.8% during the 1st quarter. Raging Capital Management LLC now owns 1,173,590 shares of the oil and gas company’s stock valued at $14,142,000 after purchasing an additional 517,399 shares during the period. Finally, Franklin Resources Inc. raised its stake 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 valued at $5,441,000 after purchasing an additional 407,000 shares during the period. Hedge funds and other institutional investors own 70.57% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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