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Capital Product Partners L.P. (CPLP): Oaktree Capital Management Ups Stake To 5.7%

Capital Product Partners L.P. (NASDAQ:CPLP) is an international shipping company engaged in the seaborne transportation of a wide range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil, among others. The company has a market cap of $1.1 billion, and pays an annual dividend of $0.92, on a yield of 10.25. For its fourth quarter ended December 31, 2014, the company posted net income of $13.7 million, which represents a significant increase $2 million in the same quarter in 2013. The company’s net income for the fourth quarter of 2013 included a $7.1 million loss from the sale of the M/T Agamemnon II and a $0.6 million loss related to the settlement of the company’s claims against Overseas Shipholding Group Inc. and certain of its subsidiaries in connection with their voluntary filing for relief under Chapter 11 of the U.S. Bankruptcy Code. The company reported fourth-quarter revenues of $49.7 million, compared to $47.0 million in 2013. On a full-year basis, the company’s net income was $44 million, down from $99.5 million in 2013. Revenues for 2014 were $192.8 million, up from $171.5 million in 2013.

Other largest shareholders of Capital Product Partners L.P. (NASDAQ:CPLP) include Two Sigma Advisors, led by John Overdeck and David Siegel, which held 1.04 million shares of the company as of the end of September 2014. Jim Simons’ Renaissance Technologies, in its latest 13F filing, revealed holding 184,373 shares of the company.

On Monday, shares of Capital Product Partners L.P. (NASDAQ:CPLP) are trading down by 0.98% to $9.07. The stock has a 52 week high of $11.63, and a 52 week low of $6.54. The consensus average target price for the stock is $11.94, while the consensus average recommendation ‘Overweight,’ based on ratings of 10 analysts. During last one year, the company’s stock dropped by 9.39%. It fell 16.87% in last six months.

Disclosure: none

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