Aegean Marine Petroleum Network Inc. (NYSE:ANW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

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. “

A number of other brokerages also recently weighed in on ANW. Clarkson Capital upgraded shares of Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Friday, August 11th. Stifel Nicolaus restated a “buy” rating and set a $9.00 price objective on shares of Aegean Marine Petroleum Network in a research report on Friday, July 21st. ValuEngine downgraded shares of Aegean Marine Petroleum Network from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $8.00 price objective on shares of Aegean Marine Petroleum Network in a research report on Friday, August 11th. Finally, TheStreet downgraded shares of Aegean Marine Petroleum Network from a “b-” rating to a “c” rating in a research report on Thursday, May 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Aegean Marine Petroleum Network presently has a consensus rating of “Buy” and a consensus price target of $8.75.

Shares of Aegean Marine Petroleum Network (NYSE ANW) traded down 5.77% during midday trading on Wednesday, hitting $4.90. 659,277 shares of the stock traded hands. The firm has a market capitalization of $199.10 million, a PE ratio of 7.10 and a beta of 2.25. Aegean Marine Petroleum Network has a 52 week low of $4.20 and a 52 week high of $13.10. The company’s 50-day moving average is $5.21 and its 200 day moving average is $8.66.

Aegean Marine Petroleum Network (NYSE:ANW) last issued its quarterly earnings data on Thursday, August 10th. The oil and gas company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.29 billion. Aegean Marine Petroleum Network had a net margin of 0.56% and a return on equity of 7.97%. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Analysts anticipate that Aegean Marine Petroleum Network will post $0.32 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in ANW. Senvest Management LLC boosted its stake in shares of Aegean Marine Petroleum Network by 19.5% in the second quarter. Senvest Management LLC now owns 5,284,894 shares of the oil and gas company’s stock worth $30,917,000 after buying an additional 862,860 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Aegean Marine Petroleum Network by 65.7% in the second quarter. Ameriprise Financial Inc. now owns 2,668,192 shares of the oil and gas company’s stock worth $15,609,000 after buying an additional 1,058,187 shares in the last quarter. Schneider Capital Management Corp boosted its stake in shares of Aegean Marine Petroleum Network by 4.1% in the second 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. Raging Capital Management LLC boosted its stake in shares of Aegean Marine Petroleum Network by 78.8% in the first quarter. Raging Capital Management LLC now owns 1,173,590 shares of the oil and gas company’s stock worth $14,142,000 after buying an additional 517,399 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Aegean Marine Petroleum Network by 77.8% in the second 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. 74.92% of the stock is owned by institutional investors and hedge funds.

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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