Shah Capital Management Continues to Hold Position in Aegean Marine Petroleum Network Inc. (ANW)

Shah Capital Management maintained its position in shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) during the first quarter, Holdings Channel reports. The fund owned 319,899 shares of the oil and gas company’s stock at the end of the first quarter. Aegean Marine Petroleum Network accounts for 2.0% of Shah Capital Management’s holdings, making the stock its 14th largest position. Shah Capital Management’s holdings in Aegean Marine Petroleum Network were worth $3,854,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Boothbay Fund Management LLC raised its position in shares of Aegean Marine Petroleum Network by 5.6% in the fourth quarter. Boothbay Fund Management LLC now owns 13,937 shares of the oil and gas company’s stock worth $141,000 after buying an additional 736 shares in the last quarter. State Street Corp raised its position in shares of Aegean Marine Petroleum Network by 11.3% in the fourth quarter. State Street Corp now owns 21,708 shares of the oil and gas company’s stock worth $220,000 after buying an additional 2,212 shares in the last quarter. Bayesian Capital Management LP raised its position in shares of Aegean Marine Petroleum Network by 22.9% in the fourth quarter. Bayesian Capital Management LP now owns 13,400 shares of the oil and gas company’s stock worth $136,000 after buying an additional 2,500 shares in the last quarter. Towle & Co. raised its position in shares of Aegean Marine Petroleum Network by 0.3% in the third quarter. Towle & Co. now owns 2,180,348 shares of the oil and gas company’s stock worth $21,803,000 after buying an additional 7,510 shares in the last quarter. Finally, Brandes Investment Partners LP purchased a new position in shares of Aegean Marine Petroleum Network during the third quarter worth approximately $114,000. Hedge funds and other institutional investors own 70.50% of the company’s stock.

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

Shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) remained flat at $11.45 during midday trading on Thursday. 354,933 shares of the stock traded hands. The company has a market cap of $430.66 million, a price-to-earnings ratio of 10.04 and a beta of 2.86. The firm’s 50-day moving average is $11.55 and its 200 day moving average is $10.56. Aegean Marine Petroleum Network Inc. has a 52 week low of $5.00 and a 52 week high of $13.10.

Aegean Marine Petroleum Network (NYSE:ANW) last announced its quarterly earnings results on Wednesday, March 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Aegean Marine Petroleum Network had a net margin of 1.20% and a return on equity of 9.48%. The firm earned $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. Equities research analysts predict that Aegean Marine Petroleum Network Inc. will post $1.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 29th. Investors of record on Wednesday, March 15th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Monday, March 13th. Aegean Marine Petroleum Network’s dividend payout ratio is currently 8.60%.

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A number of brokerages have recently issued reports on ANW. Clarkson Capital upgraded shares of Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating in a research note on Friday, March 3rd. Stifel Nicolaus restated a “buy” rating and issued a $18.00 target price (up previously from $17.00) on shares of Aegean Marine Petroleum Network in a research note on Saturday, March 11th. Finally, Zacks Investment Research upgraded shares of 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. Five analysts have rated the stock with a buy rating, Aegean Marine Petroleum Network presently has a consensus rating of “Buy” and an average price target of $14.67.

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.

5 Day Chart for NYSE:ANW

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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