Movers and SHAKERS
Pyxis Tankers Inc. (PXS)
Delta MR Tanker Sale Closed
Pyxis Tankers Inc is a United States-based international maritime transportation company which focuses on the product tanker sector. It owns a fleet which comprises of double hull product tankers employed under a mix of short- and medium-term time charters and spot charters. The fleet owned by the company includes Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Pyxis Delta, Northsea Alpha, and Northsea Beta. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil, and other liquid bulk items, such as vegetable oils and organic chemicals.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Sale of 2006-built MR Tanker has closed. The Pyxis Delta sale was driven by the trade-off between cash flow potential and rising fuel/maintenance cost, including the cost of the upcoming 15-year survey. In addition, debt repayment might have played a role.
No impact to 2019 estimates. Our 2019 EBITDA estimate stays in the $6.2 million range based on TCE rates of...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.