CoolNYSE: CLCO

CLCO, ITOCY and MONDY made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 3, 2024.

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These so-called “millionaire-maker” stocks have the potential to turn a $100,000 investment into $1 million over the next decade. As legendary Fidelity fund manager Peter Lynch explained, a “tenbagger” stock appreciates 10 times its original purchase price, generating a 1,000% return for early investors.

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Here is how Cool Company Ltd. (CLCO) and Navios Maritime Partners LP (NMM) have performed compared to their sector so far this year.

LONDON--(BUSINESS WIRE)--The shares in Cool Company Ltd. (NYSE: CLCO / CLCO.OL) will be traded ex dividend of $0.41 per share for the first quarter of 2024 as follows: - OSE: As of May 30, 2024 - NYSE: As of May 31, 2024 This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

The demand for LNG is expected to increase by 110 MTPA in the next 2 years. LNG carriers with advanced propulsion systems will earn higher TCE rates. CLCO had a strong performance in 2023, with a 55% increase in EBITDA and a 53% increase in operating cash flow compared to the previous year. In 2023, CLCO will pay $1.64 per share, resulting in a TTM yield of 14.7%. The company has a solid capital structure with a total debt/equity ratio of 132% and total liabilities/total assets ratio of 60%. CLCO has $133 million in cash and owes $1,066 million in total debt.

Cool Company is an LNG pure play with a small fleet of 11 vessels and two more expected to be delivered in 2H2024. CLCO has 129% total debt to equity, 4.0 total debt to EBITDA, and 3.3 EBITDA/Interest expenses. It delivers 78% Gross margin, 70.9% EBITDA margin, and 29.4% ROE. CLCO trades at 68% P/NAV while paying dividends with a 14.4% FWD yield. Cool Co is my favorite LNG play, and my verdict is a strong buy.