Aegean Marine -70% on $200M writedown news; World Fuel could take share [Seeking Alpha]
Marine Petroleum Trust - Units of Beneficial Interest (MARPS)
US:NASDAQ Investor Relations:
marps-marine.com
Company Research
Source: Seeking Alpha
Aegean Marine -70% on $200M writedown news; World Fuel could take shareAegean Marine Petroleum (ANW-71.1%) is crushed following news late yesterday that itmay need to write off $200M of accounts receivable owed to the company after an internal probe uncovered possible wrongdoing with its finances.Seaport Global analyst Kevin Sterling views the news as a "crippling blow" to ANW as selling bunker fuel is a working capital intensive business, with receivables the company's lifeline and major asset.Sterling says ANW is "severely weakened," providing an opportunity for competitor World Fuel Services (INT+1.7%) to pick up additional market share, as well as the potential for pricing to have an upward bias.See all stocks on the move »Now read:A 10% Yield, Record Earnings, 21 Straight Hikes, 10% Distribution Growth Through 2019 »
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MARPS
News
- Marine Petroleum Trust (NASDAQ: MARPS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Marine Petroleum Trust (NASDAQ: MARPS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Marine Petroleum Trust (NASDAQ: MARPS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Marine Petroleum Trust (NASDAQ: MARPS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Marine Petroleum Trust (NASDAQ: MARPS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
MARPS
Analyst Actions
- 2/15/24 - TheStreet
MARPS
Sec Filings
- 2/16/24 - Form 8-K
- 2/14/24 - Form 10-Q
- MARPS's page on the SEC website