Aegean Marine Petroleum Network Inc. (ANW) Releases Quarterly Earnings Results
Aegean Marine Petroleum Network Inc. (NYSE:ANW) released its quarterly earnings results on Wednesday. The oil and gas company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.20), Briefing.com reports. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Aegean Marine Petroleum Network had a net margin of 0.56% and a return on equity of 7.97%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share.
Aegean Marine Petroleum Network (ANW) traded up $0.05 on Thursday, hitting $3.40. 640,500 shares of the stock traded hands, compared to its average volume of 644,726. Aegean Marine Petroleum Network has a 12-month low of $3.20 and a 12-month high of $13.10. The company has a current ratio of 1.85, a quick ratio of 1.43 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $136.12, a P/E ratio of 3.13 and a beta of 2.17.
Several analysts have commented on the stock. ValuEngine lowered shares of Aegean Marine Petroleum Network from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Aegean Marine Petroleum Network from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Stifel Nicolaus decreased their price target on shares of Aegean Marine Petroleum Network from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Jefferies Group LLC reissued a “buy” rating and set a $8.00 price target on shares of Aegean Marine Petroleum Network in a research report on Friday, August 11th. Finally, Clarkson Capital raised shares of 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 report on Friday, August 11th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $7.33.
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A hedge fund recently raised its stake in Aegean Marine Petroleum Network stock. Northern Trust Corp grew its stake in shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) by 107.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,785 shares of the oil and gas company’s stock after acquiring an additional 16,489 shares during the quarter. Northern Trust Corp owned about 0.08% of Aegean Marine Petroleum Network worth $187,000 as of its most recent SEC filing. Institutional investors and hedge funds own 68.59% 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.
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