$1.13 -0.01 (-0.88%)
11/20/2009 4:00 PM

OceanFreight, Inc. (OCNF)

CAPS Rating: 5 out of 5

The Company was formed to initially acquire a fleet of seven secondhand drybulk carriers engaged in the seaborne transportation of commodities.

Current Price $1.13 Mkt Cap $102.15M
Open $1.14 P/E Ratio 0.70
Prev. Close $1.14 Div. (Yield) 3.08 (73.50%)
Daily Range $1.11 - $1.17 Volume 2,561,061
52-Wk Range $0.80 - $5.50 Avg. Daily Vol. 5,773,000

OCNF News and Commentary

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All Members

293 Outperform
7 Underperform
 

All-Star Members

81 Outperform
5 Underperform
 

Wall Street

2 Outperform
1 Underperform
 

Top OCNF Bull/Bear Pitches

The best Bull and Bear pitches based on recency and number of recommendations.

skepticalbuyer (92.43)
Submitted June 15, 2009

EV/EBIDTA multiple seems low.

Their EPS greatly underestimates their cash flow because of the big depreciation charges. If you add the 12.5 million of depreciation back to the 7.5 million operating income last quarter, you get an EBITDA of… More

3 Comments | Reply | Report this Post

abitarePERFECT (99.89)
Submitted March 10, 2008

Corrupt scum bags playing you for a total fool:http://www.forbes.com/global/2008/0310/032.html?partner=yahoomag

2 Comments | Reply | Report this Post
OCNF VS S&P 500 (SPY)

Recent Community Commentary

Read the most recent pitches from members about OCNF.

Recs

0
Member Avatar MSUalum (86.26) Submitted: 8/6/2009 8:56:53 PM : Outperform Start Price: $1.79 OCNF Score: -54.70

This company needs to get their act together and when they do this stock will be back and in a big way. You will not see this stock any lower than 1.30. There is alot of upside/reward for holding on to this one. Panic selling, fundamentals are still there for long term. Big companies are buying up shares of this company.

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Recs

0
Member Avatar holyemo (73.44) Submitted: 7/31/2009 3:40:12 PM : Outperform Start Price: $1.59 OCNF Score: -39.39

OceanFreight, Inc is a rapidly growing shipping company which owns over a dozen ships operating on multi-year fixed contracts with both dry bulk and energy tankers. The company has been buying new ships - expanding and upgrading their fleet - all year, recently had shareholders approve an increase in authorized shares to support continued growth, and I think - but I'm not sure anyone is exactly sure - will bring back the dividend with their earnings announcement scheduled for next Wed, the first Wed in Aug 2009.

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Recs

0
Member Avatar brickcityman (26.90) Submitted: 7/29/2009 5:22:42 PM : Outperform Start Price: $1.55 OCNF Score: -38.02

I'm torn on this one... I own in real life at a cost basis of around 1.46.

I believe there is alot of potential here, and I like the dividend history.

On the flip side I also am worried that management might get too aggressive. For those that don't know the CEO and major holders are all closely tied to George Economou (sp?) CEO of DryShips. Some articles I have read paint him as having alot of contempt for shareholders. Couple that with the recent approval of authorization of issuance of a boatload (pun intended) of new shares and I think the risk of abuse/dilution to common shareholders is a very real possibility.

In the end, we've got a company that has been making money. Is aggressive in pursuing growth. And has major shareholders at the helm. That's more than I can say for most Fortune 500 companies where the CEO barely knows how his bread is buttered. So I'm sticking with this one for now.

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View All 47 Pitches »

Leaderboard

Find the members with the highest scoring picks in OCNF.

Score Leader

eages22

eages22 (94.42) Score: +94.95

The Score Leader is the member with the highest score across all their picks in OCNF.

Top
Pick 		Member Name Member
Rating 		Start
Date 		Call Time
Frame 		Start
Price 		Stock
Gain 		S&P
Gain 		Score Commentary
eages22 94.42 11/5/2008 Underperform 1Y $6.60 -82.88% +12.08% +94.95
thezerosumgame 91.99 2/7/2008 Underperform NS $14.99 -92.46% -13.47% +78.99 1 Comment
Lydia11127 < 20 6/10/2008 Underperform 3Y $22.19 -94.91% -16.36% +78.55
otsc257 90.17 8/22/2007 Underperform 3M $15.98 -92.93% -21.10% +71.82
12371 96.60 11/2/2007 Underperform NS $21.81 -94.82% -24.34% +70.48
panjab 91.68 7/19/2007 Underperform NS $17.31 -93.47% -25.79% +67.68
forestshade 99.45 7/28/2009 Outperform 3Y $1.50 -24.67% +12.23% -36.90
Zookii 52.54 7/28/2009 Outperform 3Y $1.50 -24.67% +12.48% -37.14
BravoBevo 100.00 7/28/2009 Outperform 5Y $1.50 -24.67% +12.55% -37.21
rxedoh26 80.84 7/28/2009 Outperform 5Y $1.50 -24.67% +12.58% -37.25
View Complete Scorecard »

Wall Street

See what the Wall Street professionals think, according to their public statements and filings.

Member Name Member
Rating		 Start
Date		 Call Time
Frame		 Start
Price		 Stock
Gain		 S&P
Gain		 Score End Date Commentary
TrackJimCramer 36.31 2/29/2008 Underperform 3W $18.46 -93.88% -14.70% +79.17
TrackJimCramer 36.31 2/15/2008 Outperform 3W $22.19 -0.73% -1.07% +0.33 3/1/2008 @ $22.03
TrackJimCramer 36.31 1/11/2008 Underperform 3W $17.81 +28.75% -3.57% -32.32 2/15/2008 @ $22.93
TrackFerrisBaker 57.55 12/7/2007 Outperform NS $14.90 -92.42% -24.05% -68.37
TrackOppenheimer < 20 9/20/2007 Outperform NS $17.25 -81.74% -42.17% -39.56 12/15/2008 @ $3.15
TrackJimCramer 36.31 7/23/2007 Outperform 3W $21.81 -18.34% -8.98% -9.37 1/12/2008 @ $17.81
TrackCantorFitz 20.50 6/5/2007 Outperform NS $16.13 -79.04% -42.23% -36.81 12/16/2008 @ $3.38
TrackFerrisBaker 57.55 6/4/2007 Outperform NS $19.87 -6.15% -2.14% -4.01 12/6/2007 @ $18.65
TrackBofASec 91.37 6/4/2007 Outperform NS $16.41 -93.11% -24.65% -68.46

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