Home / Shipping News / Hellenic Shipping News / Aegean Marine Petroleum Network Inc. (ANW) Rating Increased to Hold at Zacks Investment Research

Aegean Marine Petroleum Network Inc. (ANW) Rating Increased to Hold at Zacks Investment Research

Aegean Marine Petroleum Network logoAegean Marine Petroleum Network Inc. was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors.

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 analysts also recently issued reports on ANW. TheStreet raised shares of Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating in a research note on Wednesday, November 30th. Clarkson Capital reaffirmed a “neutral” rating on shares of Aegean Marine Petroleum Network in a research note on Tuesday, January 10th.

Shares of Aegean Marine Petroleum Network (NYSE:ANW) traded up 2.36% on Tuesday, reaching $10.85. The company’s stock had a trading volume of 339,413 shares. The company’s 50 day moving average price is $10.72 and its 200 day moving average price is $9.89. Aegean Marine Petroleum Network has a 12-month low of $5.00 and a 12-month high of $13.10. The company has a market cap of $427.52 million, a P/E ratio of 11.73 and a beta of 2.86.

Several hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new stake in Aegean Marine Petroleum Network during the third quarter valued at $445,000. Airain ltd acquired a new position in shares of Aegean Marine Petroleum Network during the third quarter valued at about $833,000. ClariVest Asset Management LLC acquired a new position in shares of Aegean Marine Petroleum Network during the third quarter valued at about $161,000. Lucus Advisors LLC acquired a new position in shares of Aegean Marine Petroleum Network during the third quarter valued at about $405,000. Finally, Smith Asset Management Group LP raised its position in shares of Aegean Marine Petroleum Network by 2.0% in the third quarter. Smith Asset Management Group LP now owns 29,670 shares of the company’s stock valued at $297,000 after buying an additional 590 shares during the last quarter. 70.50% of the stock is owned by hedge funds and other institutional investors.
Source: Zacks

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