Aegean Marine Petroleum Network Inc. (NYSE:ANW) declared a quarterly dividend on Thursday, March 8th, Wall Street Journal reports. Investors of record on Wednesday, March 21st will be paid a dividend of 0.01 per share by the oil and gas company on Wednesday, April 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, March 20th.
Aegean Marine Petroleum Network has increased its dividend by an average of 17.0% per year over the last three years. Aegean Marine Petroleum Network has a dividend payout ratio of 800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Aegean Marine Petroleum Network to earn $0.78 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 10.3%.
Aegean Marine Petroleum Network stock traded up $0.02 during trading on Thursday, reaching $2.32. The company’s stock had a trading volume of 20,177 shares, compared to its average volume of 516,599. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.19. The firm has a market capitalization of $97.54, a price-to-earnings ratio of -3.15 and a beta of 2.34. Aegean Marine Petroleum Network has a 12 month low of $2.15 and a 12 month high of $13.00.
ANW has been the topic of several research reports. Jefferies Group initiated coverage on Aegean Marine Petroleum Network in a report on Monday, December 18th. They issued a “buy” rating and a $7.00 target price on the stock. ValuEngine raised Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating in a report on Friday, December 1st. TheStreet lowered Aegean Marine Petroleum Network from a “c-” rating to a “d” rating in a research note on Thursday, March 8th. Zacks Investment Research raised Aegean Marine Petroleum Network from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, 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 research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.33.
In other Aegean Marine Petroleum Network news, major shareholder Shah Capital Opportunity Fund bought 6,200 shares of Aegean Marine Petroleum Network stock in a transaction that occurred on Friday, December 29th. The shares were purchased at an average cost of $4.25 per share, for a total transaction of $26,350.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Justin Moore bought 84,411 shares of Aegean Marine Petroleum Network stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $4.68 per share, for a total transaction of $395,043.48. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 251,631 shares of company stock worth $1,173,028.
An institutional investor recently raised its position in Aegean Marine Petroleum Network stock. State Street Corp increased its holdings in shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,837 shares of the oil and gas company’s stock after buying an additional 3,324 shares during the quarter. State Street Corp owned about 0.10% of Aegean Marine Petroleum Network worth $233,000 as of its most recent filing with the Securities and Exchange Commission. 54.76% of the stock is owned by 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.
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