Aegean Marine Petroleum Network (ANW) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Aegean Marine Petroleum Network (NYSE:ANW) from a sell rating to a hold rating in a research note published on Tuesday morning.
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 equities analysts have also issued reports on the company. Stifel Nicolaus lowered Aegean Marine Petroleum Network from a buy rating to a hold rating and set a $3.00 price objective on the stock. in a report on Friday, February 23rd. ValuEngine lowered Aegean Marine Petroleum Network from a buy rating to a hold rating in a report on Wednesday, January 3rd. Finally, Jefferies Group assumed coverage on Aegean Marine Petroleum Network in a report on Monday, December 18th. They set a buy rating and a $7.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $5.33.
In related news, major shareholder August Roth purchased 50,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were purchased at an average price of $4.58 per share, with a total value of $229,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder & Co Towle purchased 49,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were bought at an average cost of $4.66 per share, for a total transaction of $228,340.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 251,631 shares of company stock worth $1,173,028.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANW. Macquarie Group Ltd. purchased a new position in shares of Aegean Marine Petroleum Network during the third quarter worth about $109,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Aegean Marine Petroleum Network during the third quarter worth about $115,000. Northern Trust Corp grew its holdings in shares of Aegean Marine Petroleum Network by 107.8% during the second quarter. Northern Trust Corp now owns 31,785 shares of the oil and gas company’s stock worth $187,000 after buying an additional 16,489 shares during the last quarter. State Street Corp grew its holdings in shares of Aegean Marine Petroleum Network by 9.1% during the second quarter. State Street Corp now owns 39,837 shares of the oil and gas company’s stock worth $233,000 after buying an additional 3,324 shares during the last quarter. Finally, Highbridge Capital Management LLC grew its holdings in shares of Aegean Marine Petroleum Network by 506.7% during the third quarter. Highbridge Capital Management LLC now owns 75,074 shares of the oil and gas company’s stock worth $371,000 after buying an additional 62,700 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.
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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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