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GasLog: Fourth-Ranked Stock among Its Peers Year-to-Date

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Jul. 3 2018, Updated 7:31 a.m. ET

YTD performance

Among the LNG carrier stocks, GasLog (GLOG) is the fourth-ranked stock on a YTD (year-to-date) basis. It had a YTD return of -13.7% on June 26. GasLog ranks behind Höegh LNG Partners (HMLP), GasLog Partners (GLOP), and Golar LNG (GLNG), which had YTD returns of ~-2.4%, ~-2.4%, and -4.7%, respectively.

GasLog has underperformed the shipping ETF and the broad equity market indexes. As of June 26, the Invesco Shipping ETF (SEA) has fallen 11.2% from the start of the year. During the same period, the Dow Jones Industrial Average (DIA) has fallen 1.9% and the SPDR S&P 500 ETF (SPY) has risen 1.8%.

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About GasLog

GasLog is an owner, manager, and operator of LNG carriers. It owns a fleet of 27 LNG carriers, comprising 22 vessels on the water and five LNG carrier newbuilds in the pipeline.

First-quarter highlights

GasLog earned revenues of $138.5 million in the first quarter, compared to $128.3 million a year ago. The company’s EBITDA was $95.9 million—a 7.6% rise year-over-year.

In the first quarter, GasLog increased its dividend by 7.1% to $0.15 per share. In January, the company took delivery of GasLog Houston. The vessel is scheduled to commence a multiyear contract with Royal Dutch Shell in December. In March, the company took delivery of GasLog Hong Kong and GasLog Genoa.

GasLog ordered two newbuilds in the first quarter, which are scheduled to be delivered in the second quarter of 2020. GasLog also completed a public offering of 8.2% Series B Cumulative Redeemable Perpetual Fixed to Floating Preference Units. With this, the company raised gross proceeds of $115.0 million and net proceeds of $111.2 million.

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