Aegean Marine Petroleum Network (ANW) Reaches New 52-Week Low at $2.48

Shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.48 and last traded at $2.58, with a volume of 3548311 shares traded. The stock had previously closed at $4.45.

A number of brokerages have issued reports on ANW. ValuEngine lowered Aegean Marine Petroleum Network from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus decreased their price target on Aegean Marine Petroleum Network from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Jefferies Group began coverage on Aegean Marine Petroleum Network in a research note on Monday, December 18th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Zacks Investment Research lowered Aegean Marine Petroleum Network from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Aegean Marine Petroleum Network currently has a consensus rating of “Hold” and an average target price of $7.00.

The company has a quick ratio of 1.19, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $180.85, a P/E ratio of 7.30 and a beta of 1.90.

In other Aegean Marine Petroleum Network news, major shareholder & Co Towle purchased 49,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were purchased at an average cost of $4.66 per share, with a total value of $228,340.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Justin Moore purchased 84,411 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $4.68 per share, for a total transaction of $395,043.48. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 251,631 shares of company stock worth $1,173,028.

Several institutional investors have recently added to or reduced their stakes in ANW. Wells Fargo & Company MN raised its holdings in shares of Aegean Marine Petroleum Network by 47.8% in the 2nd quarter. Wells Fargo & Company MN now owns 113,712 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 36,762 shares during the period. Northern Trust Corp raised its holdings in shares of Aegean Marine Petroleum Network by 107.8% in the 2nd quarter. Northern Trust Corp now owns 31,785 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 16,489 shares during the period. Virtu KCG Holdings LLC raised its holdings in shares of Aegean Marine Petroleum Network by 107.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 30,364 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 15,746 shares during the period. State Street Corp raised its holdings in shares of Aegean Marine Petroleum Network by 9.1% in the 2nd quarter. State Street Corp now owns 39,837 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 3,324 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Aegean Marine Petroleum Network in the 2nd quarter worth about $163,000. Institutional investors own 55.52% of the company’s stock.

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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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