TORM

TORM Plc engages in the ownership and operation of product tankers. The firm transports refined oil products such as gasoline, jet fuel, kerosene, naphtha and gas oil, and occasionally dirty petroleum products, such as fuel oil. The company was founded by Ditlev E. Torm and Christian Schmiegelow in 1889 and is headquartered in London, the United Kingdom.

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TORM Plc engages in the business of transporting clean and dirty petroleum products. It operates under the Tanker and Marine Exhaust segments. The Tanker segment focuses on the transportation of refined oil products such as gasoline, jet fuel, and naphtha. The Marine Exhaust segment includes developing and producing advanced and green marine equipment. The company was founded by Ditlev E. Torm and Christian Schmiegelow in 1889 and is headquartered in London, the United Kingdom.

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TORM PLC is a tanker company that Brookfield's Oaktree Wealth Management owns a controlling stake in. The company has a rocky history, but now has the backing of two very well-run financial services companies. Its $1.50 dividend means that the stock has a 16% forward yield if the dividend doesn't get cut.

TORM PLC: Check Out That 16% Forward Yield

TORM plc's stock has risen by 62.64% since I upgraded it to "Buy" in July 2023. But it's still undervalued and well positioned, in my view - read on. The product tanker market is expected to experience increased demand and a decrease in supply, leading to favorable conditions for maintaining high rates. TORM's financial position and dividend payout coverage should remain strong for at least the next 2 years.

TORM Stock Is Still Cheap And Well Positioned

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TORM is a leading global product tanker company with a modern fleet and a diverse customer base. The company is well-positioned to take advantage of the attractive product tanker market fundamentals underpinned by increasing oil demand, shifting trade routes, and refinery dislocations. TORM offers an attractive investment opportunity with favorable valuation, high FCF generation, and hefty capital returns.

TORM: Robust Fundamentals And High Dividends

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TORM plc has experienced a total return of +523% over 37 months, outperforming each of the "Magnificent 7" Big Tech companies. The deep-value TORM proposition no longer exists, but shares remain an investible idea with a high dividend yield. Many successful long-term investors search for underfollowed or unwanted stock names selling at steep discounts to underlying net assets.

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TRMD has a large fleet of 93 ships, including 20 LR2 vessels, and has a conservative balance sheet with strong liquidity. Catalysts for the tanker market include declining diesel inventories, growing refinery dislocation, and the Red Sea crisis. The company's liquidity position is bulletproof with $240 million cash, $724 million operating earnings, and $857 million operating cash flow.

TORM: Product Tanker Play For Income-Minded Investors

TORM plc is one of the world's largest transporters of refined oil products, operating in various vessel segments from Medium Range to Long Range 2 tankers. In 9M 2023, TORM achieved historically high financial results, despite a temporary decline in freight rates during the summer. I think it's good that TORM is trying to optimize its fleet in advance and rejuvenate its average age.

TORM: Still Great Value To Be Unlocked

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TORM's 20% dividend has moderate levels of coverage and justifies ownership despite near-term risks. Global realignment of trade flows has increased international demand for shipping of refined products, driving up ton-miles and charter rates. Refining capacity closures in developed countries have created a need for imports, increasing shipping demand.

TORM: Make Hay While The Sun Shines

TORM is one of the highest-quality names available in the product tanker space, with an excellent track record of capital allocation and generous shareholder returns. If the current product tanker earnings can be sustained, the forward dividend yield is around 20%. The fundamentals of the tanker market are expected to remain strong over the next 2-3 years because of constrained supply.

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