Aegean Marine Petroleum Network Inc. (ANW) Stake Boosted by Raging Capital Management LLC

Raging Capital Management LLC increased its position in Aegean Marine Petroleum Network Inc. (NYSE:ANW) by 78.8% during the first quarter, Holdings Channel reports. The fund owned 1,173,590 shares of the oil and gas company’s stock after buying an additional 517,399 shares during the period. Aegean Marine Petroleum Network makes up 1.5% of Raging Capital Management LLC’s holdings, making the stock its 21st largest position. Raging Capital Management LLC owned approximately 3.12% of Aegean Marine Petroleum Network worth $14,142,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. 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 valued at $161,000 after buying an additional 1,407 shares during the period. Franklin Resources Inc. boosted its position in shares of Aegean Marine Petroleum Network by 36.4% in the fourth quarter. Franklin Resources Inc. now owns 468,300 shares of the oil and gas company’s stock valued at $4,753,000 after buying an additional 125,000 shares during the period. Balter Liquid Alternatives LLC boosted its position in shares of Aegean Marine Petroleum Network by 13.3% in the first quarter. Balter Liquid Alternatives LLC now owns 118,336 shares of the oil and gas company’s stock valued at $1,426,000 after buying an additional 13,906 shares during the period. Foundry Partners LLC boosted its position in shares of Aegean Marine Petroleum Network by 4.8% in the first quarter. Foundry Partners LLC now owns 617,190 shares of the oil and gas company’s stock valued at $7,437,000 after buying an additional 28,128 shares during the period. Finally, BB&T Securities LLC boosted its position in shares of Aegean Marine Petroleum Network by 48.0% in the first quarter. BB&T Securities LLC now owns 107,407 shares of the oil and gas company’s stock valued at $1,294,000 after buying an additional 34,816 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Aegean Marine Petroleum Network (NYSE:ANW)

Aegean Marine Petroleum Network Inc. (NYSE:ANW) traded up 4.59% during midday trading on Friday, reaching $5.70. The company’s stock had a trading volume of 1,100,015 shares. The firm has a 50 day moving average price of $8.29 and a 200 day moving average price of $10.35. The firm has a market capitalization of $224.83 million, a PE ratio of 6.15 and a beta of 2.34. Aegean Marine Petroleum Network Inc. has a 1-year low of $4.60 and a 1-year high of $13.10.

Aegean Marine Petroleum Network (NYSE:ANW) last posted its quarterly earnings data on Tuesday, May 23rd. The oil and gas company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.33. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.16 billion. Aegean Marine Petroleum Network had a return on equity of 9.20% and a net margin of 0.86%. Aegean Marine Petroleum Network’s revenue for the quarter was up 102.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. On average, analysts predict that Aegean Marine Petroleum Network Inc. will post $0.60 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, June 2nd. Aegean Marine Petroleum Network’s dividend payout ratio is currently 8.60%.

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Several brokerages recently issued reports on ANW. ValuEngine cut Aegean Marine Petroleum Network from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus cut Aegean Marine Petroleum Network from a “buy” rating to a “hold” rating and cut their target price for the company from $18.00 to $9.00 in a research note on Wednesday, May 24th. Clarkson Capital cut Aegean Marine Petroleum Network from a “buy” rating to a “neutral” rating and cut their target price for the company from $16.00 to $8.00 in a research note on Wednesday, May 24th. Zacks Investment Research upgraded Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, March 7th. Finally, TheStreet cut Aegean Marine Petroleum Network from a “b-” rating to a “c” rating in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Aegean Marine Petroleum Network presently has an average rating of “Hold” and an average price target of $10.75.

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.

Want to see what other hedge funds are holding ANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aegean Marine Petroleum Network Inc. (NYSE:ANW).

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