Aegean Marine Petroleum Network’s (NYSE:ANW) Buy Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) in a report released on Friday. They currently have a $8.00 price objective on the oil and gas company’s stock. Jefferies Group also issued estimates for Aegean Marine Petroleum Network’s Q3 2017 earnings at $0.06 EPS and Q4 2017 earnings at $0.14 EPS.

ANW has been the topic of a number of other research reports. Zacks Investment Research cut Aegean Marine Petroleum Network from a hold rating to a strong sell rating in a research note on Friday, May 26th. TheStreet cut Aegean Marine Petroleum Network from a b- rating to a c rating in a research note on Thursday, May 25th. Stifel Nicolaus raised Aegean Marine Petroleum Network from a hold rating to a buy rating and set a $9.00 target price on the stock in a research note on Friday, June 2nd. They noted that the move was a valuation call. ValuEngine raised Aegean Marine Petroleum Network from a hold rating to a buy rating in a research note on Friday, June 9th. Finally, Clarkson Capital cut Aegean Marine Petroleum Network from a buy rating to a neutral rating and reduced their target price for the company from $16.00 to $8.00 in a research note on Wednesday, May 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $8.75.

Shares of Aegean Marine Petroleum Network (NYSE ANW) traded up 21.18% during midday trading on Friday, reaching $5.15. The company had a trading volume of 2,528,187 shares. The company has a market capitalization of $209.26 million, a PE ratio of 7.46 and a beta of 2.25. Aegean Marine Petroleum Network has a one year low of $4.20 and a one year high of $13.10. The company has a 50 day moving average of $5.23 and a 200 day moving average of $8.78.

Aegean Marine Petroleum Network (NYSE:ANW) last released its earnings results on Thursday, August 10th. The oil and gas company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Aegean Marine Petroleum Network had a return on equity of 8.03% and a net margin of 0.56%. The firm’s revenue was up 45.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Analysts predict that Aegean Marine Petroleum Network will post $0.38 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.55%. Aegean Marine Petroleum Network’s dividend payout ratio (DPR) is currently 11.43%.

Several hedge funds and other institutional investors have recently made changes to their positions in ANW. ClariVest Asset Management LLC boosted its position in shares of Aegean Marine Petroleum Network by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 16,454 shares of the oil and gas company’s stock worth $198,000 after buying an additional 840 shares during the period. Blair William & Co. IL bought a new position in shares of Aegean Marine Petroleum Network during the first quarter worth about $460,000. JPMorgan Chase & Co. boosted its position in shares of Aegean Marine Petroleum Network by 59.0% in the first quarter. JPMorgan Chase & Co. now owns 155,395 shares of the oil and gas company’s stock worth $1,873,000 after buying an additional 57,639 shares during the period. Brandes Investment Partners LP boosted its position in shares of Aegean Marine Petroleum Network by 11.8% in the first quarter. Brandes Investment Partners LP now owns 13,339 shares of the oil and gas company’s stock worth $161,000 after buying an additional 1,407 shares during the period. Finally, Airain ltd boosted its position in shares of Aegean Marine Petroleum Network by 61.2% in the first quarter. Airain ltd now owns 207,960 shares of the oil and gas company’s stock worth $2,506,000 after buying an additional 78,988 shares during the period. 76.53% of the stock is currently owned by hedge funds and other institutional investors.

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.