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FOEAY
Fred Olsen Energy ASA ADR - OTCPK - Current

4/20/2014, 12:32 PM ET
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  • Fred Olsen Energy: Undervalued Stock With 10% Dividend Yield
    Street Smart Investor Thu, Apr. 17 13 Comments

    Summary

    • Fred Olsen, a provider of offshore exploration and production services, offers an attractive dividend yield of 10%.
    • A strong order backlog of $4.6 billion gives 4-year revenue visibility and ensures sustainability of dividends along with revenue growth.
    • One new rig delivered in February 2014 and another scheduled for delivery in the third quarter of 2015 to boost revenue growth.
    • Attractive EV/EBITDA valuation as compared to peers makes Fred Olsen a “Strong Buy” at current levels.
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Company Description

Fred. Olsen Energy ASA provides exploration and production services to the offshore oil and gas industry building on 150 years experience in shipping and more than 40 years in offshore drilling.

Country: Norway
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