Tue 23 Dec 2014, 18:23 GMT

Investment firm raises Aegean price target


Aegean Marine Petroleum shares today reached a 52-week high of $13.11.



Analysts at brokerage and investment banking firm Stifel Nicolaus have increased their price target on shares of Aegean Marine Petroleum Network from $14.00 to $16.00 in a research report issued to clients and investors today.

The firm - headquarterd in St. Louis, Missouri - currently has a 'buy' rating on the stock.

Aegean shares closed at $12.46 on Monday and have today been trading between $12.52 and a 52-week high of $13.11 per share.

The Greek bunker supplier has a 52-week low of $6.99, a market capitalization of $623.11 million and a price-to-earnings ratio of $35.99.

Aegean reported a net loss for the three months ended September 30, 2014 of $4.3 million, or $0.09 basic and diluted loss per share, compared to a net income of $7.3 million, or $0.16 basic and diluted earnings per share, during the corresponding period last year.

Total revenues for the three-month period rose by $207.7 million, or 13.0%, to $1,809.7 million compared to $1,602.0 million the previous year.

Sales of marine petroleum products increased by $201.1 million, or 12.6%, to $1,791.3 million compared to $1,590.2 million during the same period in 2013.

The volume of marine fuel sold between July and September increased by 462,425 tonnes, or 18.5%, to 2,958,882 metric tonnes compared to 2,496,457 metric tonnes last year.


Flag of Brazil. Petrobras resumes bunkering operations at Rio Grande Terminal after power restoration  

Brazilian supplier restarts marine fuel supply after completing an inspection following an electricity outage.

Stena E-Flexer vessel render. Stena RoRo orders battery-ready E-Flexer 2.0 ferries from Chinese yard  

Vessels include diesel engines capable of running on biodiesel and are methanol-ready.

BW Gemini vessel. Nord Gas Solutions to supply cargo and fuel systems for eight BW LPG VLGCs  

Gas-handling systems specialist awarded contract for new 90,000-cbm vessels.

Kingston Trader vessel. TFG Marine fits mass flow meter to Jamaica-bound bunker barge  

Kingston Trader becomes the first Caribbean bunkering vessel with mass flow metering as TFG Marine’s fleet coverage nears 90%.

Sebastian Vasquez and Camilo Angulo Ferrand, Monjasa. Monjasa announces full-chain marine fuel operations in Cartagena  

Monjasa says it now covers the entire marine fuel supply chain in Colombia, from oil wells to ship-side deliveries.

Steel-cutting ceremony for vessel with builder's hull no. H619. Ceremonies held for Van Oord’s methanol-hybrid rock installation vessels  

Two ships advance through parallel construction at China’s CIMC Raffles shipyard.

WK NatPower and AREL MoU signing. Wah Kwong NatPower signs MoU to explore Hong Kong marine electrification  

Venture will examine shore power, vessel charging and electric vessel deployment around Aberdeen’s waterfront.

Vard 4 39 design render. Dong Fang Offshore orders CSOV with battery-hybrid propulsion  

Vard secures fifth newbuild contract from Taiwanese firm, with delivery scheduled for 2028.

Rock Star vessel. CSL and OWL launch first subsea rock installation vessel for offshore wind  

MV Rock Star can run on MGO and methanol and is designed to support scour protection and cable burial for offshore wind projects.

François Michel and Andy McKeran. Lloyd’s Register study backs 200,000-cbm LNG carriers for fleet renewal  

Analysis finds larger LNG carriers could cut transport costs while retaining access to most major terminals.