reports
- Nicolay Dyvik
Not a repeat of December 2018
OPEC+ has announced it will cut oil production by 0.5mbpd from January. With Iraq’s pledge to increase compliance, we now estimate 760kbpd of oil could be removed from the market, as Saudi Arabia reiterated its 400kbpd voluntary cut, compared to October 2019. However, as October was a month with strong Saudi production of 10.2mbpd, above the YTD average of 9.8mbpd, we see the actual cut more in line with 360kbpd or 30% of the cut in November last year. Hence we do not expect such a profound im...
- Nicolay Dyvik
Next VLCC could be USD107.5m
According to Tradewinds and industry sources, VLCC resale asset prices are on the rise. Currently a scrubber-fitted VLCC resale is on subjects for USD107.5m, which is above the USD105m we heard last week and above the USD98m sale from Hunter Group in June, but approaching our 2020 VLCC resale forecast of USD107m launched in March 2018. On current asset values, our tanker peer group is trading at a 1.08x NAV, while based on the above the P/NAV would be 0.98x.
- Dave Nicoski
- Ross LaDuke
UMH UMH PROPERTIES INC.
RARE ULTRAGENYX PHARMACEUTICAL INC.
NERV MINERVA NEUROSCIENCES
MHLD MAIDEN HOLDINGS LTD.
LOCO EL POLLO LOCO HOLDINGS INC
IPHS INNOPHOS HOLDINGS INC.
GPRE GREEN PLAINS INC.
GKOS GLAUKOS CORP
FNHC FEDERATED NATIONAL HOLDING
CRZO CARRIZO OIL & GAS INC.
CLNE CLEAN ENERGY FUELS
BGFV BIG 5 SPORTING GOODS CORP.
BCRX BIOCRYST PHARMACEUTICALS INC.
GNRT GENER8 MARITIME
GNW GENWORTH FINANCIAL INC. CLASS A
GNE GENIE ENERGY LTD. CL B
NHC NATIONAL HEALTHCARE CORP.
VLGEA VILLAGE SUPER MARKET INC. CL A
LAUR LAUREATE EDUCATION INC. CLASS A
SHLOQ SHILOH INDUSTRIES INC.
BHR BRAEMAR HOTELS & RESORTS
AROC ARCHROCK INC.
- Nicolay Dyvik
Upgraded to BUY after two years
We have upgraded most of our covered tanker companies to BUY (HOLD) for the first time since April 2016. We forecast ~100% upside to VLCC rates and ~30% upside to VLCC resale prices by 2020e. The tanker stocks with the modest leverage are unchanged YOY despite VLCC rates at USD15k/day since June 2016, suggesting that the bad news is already priced in.
INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investi...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Gener8 Maritime, Inc. ("Gener8" or "the Company") (NYSE:GNRT) stock prior to December 21, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Gener8 Maritime, Inc. to Euronav. Under the terms of the deal, Gener8 shareholders will receive 0.7272 of a share of Euronav for each share of Gener8 stock they own. To...
- Nicolay Dyvik
Gener8 Maritime (Hold, TP: USD4.85) - It is getting there
Gener8 Maritime has been active in selling vessels and is increasing the company’s competitiveness by lowering cash break-even levels and securing sufficient liquidity in one go. We find there is still more work to be done, but it is getting there. Reiterate our HOLD recommendation and USD4.85 target price.
- Nicolay Dyvik
Gener8 Maritime (Hold, TP: USD4.85) - Cutting loose some older DWT
We have made only minor revisions to our estimates ahead of Gener8 Maritime’s Q3 results (expected before market open on 9 November). While we are 8% below consensus Q3 adj. EBITDA, we are 12% above on adj. EPS. The company has both improved liquidity and cut the average age of its fleet by disposing of a number of vessels since its Q2 results, and we expect more flavour on this in the Q3 release. We reiterate our HOLD recommendation, but have cut our target price to USD4.85 (USD5.00) due to l...
- Nicolay Dyvik
- Nicolay Dyvik
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
Insider sold: A director sold 14,312 shares at 5.300USD
A director at Gener8 Maritime Inc sold 14,312 shares at 5.300USD and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...
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