World News
Stock Analysts Bullish Over Aegean Prospects
Stock analysts last week voiced bullish sentiment for New York-listed Aegean Marine Petroleum Network Inc. (Aegean) [NYSE:ANW], labelling it a "value stock" that has attracted a "buy" rating from at least three analysts, according to data form Reuters.
In the earlier part of 2015 Aegean's share price was trading mostly in the $13-$15 range, but despite growing bunker sales volumes it dropped into the sub $10 range since last August, having spent most of the time since then in the $7 to $8 range.
It closed Friday down 3.8 percent at $7.62, after jumping Thursday following the release of its Q4 and FY2015 financials.
Fellow New York-listed supplier World Fuel Services Corp (WFS) [NYSE:INT] meanwhile has enjoyed a rising stock price of late, currently trading at just over $49 a share, up from a price of $36 a share in September of 2015.
Other than their bunker connection, the two companies are of course quite different, but it nevertheless suggests that in the current low oil price environment investors are not necessarily turned off fuel logistics firms per se.
As it is, analysts have assigned a price target of $14.50 for Aegean in the coming period, with a trading range of $11 to $16.
In November of 2014 Ship & Bunker reported that investment analysts tipped both Aegean and WFS as "well placed" to grow following the collapse of OW Bunker.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 3.00 | 727.00 | 6.50 |
| Rotterdam | 569.50 | 1.00 | 739.50 | 2.50 |
| Houston | 593.00 | 3.00 | 762.50 | 4.50 |
| Fujairah | 629.00 | 2.00 | 883.00 | 5.00 |
| Global 20 Ports Average | 639.50 | 0.50 | 820.00 | 1.50 |
| Global 4 Ports Average | 604.00 | 0.50 | 778.00 | 1.50 |
| Global Average Bunker Price | 691.50 | 2.00 | 881.50 | 0.50 |
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