Fred Olsen Energy: Undervalued Stock With 10% Dividend Yield
- 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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