The wholly owned, high-quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk), enabling it to carry a wide range of cargoes. It makes capital expenditures from time to time in connection with vessel acquisitions. As of April 12, 2022, the company’s fleet consisted of 17 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately 4,635,000 deadweight tonnage and an average age of 10.1 years.
Investors in Genco Shipping & Trading stock receive a 10.88% dividend. The BTIG target price is $28, while the consensus target is $27.61. The shares closed Monday’s trading at $25.56, up close to 4% on the day.
Golden Ocean
After slumping badly last year, the shares traded off a double bottom bounce and look ready to move even higher. Golden Ocean Group Ltd. (NASDAQ: GOGL) owns and operates a fleet of dry bulk vessels, comprising Newcastlemax, Capesize, Panamax and Ultramax vessels, in the spot and time charter markets worldwide. The company transports bulk commodities, such as ores, coal, grains and fertilizers. As of March 23, 2022, it owned a fleet of 81 dry bulk vessels.
With an improving bottom line and shipping prices continuing to skyrocket due to the war in Ukraine, this looks like a very solid idea for aggressive investors also searching for big dividend payouts.
Investors receive an 18.33% dividend. The $14 BTIG Research price objective is in line with the $13.96 close on Monday, though shares did reach a 52-week high of $14.27 earlier in the day.
SFL
This is one of the top oil shipping stocks, and oil prices could remain high for years. SFL Corp. Ltd. (NYSE: SFL) is a maritime and offshore asset owning and chartering company, engaged in the ownership, operation and chartering of vessels and offshore related assets on medium and long-term charters.
The company is also involved in the charter, purchase and sale of assets. In addition, it operates in various sectors of the maritime, shipping and offshore industries, including oil, chemical, oil product, container and car transportation, as well as dry bulk shipments and drilling rigs.
As of December 31, 2021, the company owned six crude oil tankers, 15 dry bulk carriers, 35 container vessels, two car carriers, one jack-up drilling rig, one ultra-deepwater drilling unit, two chemical tankers and four oil product tankers. It primarily operates in Bermuda, Cyprus, Liberia, Norway, Singapore, the United Kingdom and the Marshall Islands.
Shareholders receive a 7.48% dividend. BTIG Research has set an $11 price objective, and the consensus target is $11.50. SFL stock closed trading Monday at $10.70.
Though some of these top stocks are trading close to the analyst targets, all of them on a technical basis look like they could break out to fresh highs. With other sectors looking very weak and vulnerable to selling pressure, these four could be great near-term ideas for investors looking for alpha.
Originally posted at 24/7 Wall St.
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