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Pyxis Tankers Inc. (PXS)
Solid Improvement Likely Extends Into Next Year
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 full report for price target, fundamental analysis and rating.
- Positive direction with 3Q2019 EBITDA of $2.1 million ahead of expectations due to stronger MR and small tankers performance. 3Q2019 TCE rates of $12,360/day and operating days of 500 were up sequentially.
- Increasing 2019 Estimate to $6.2 million to reflect quarterly results and forward cover. TCE rate estimate is $11,899/day and forward cover is 57% of available...
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 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.