STEALTHGAS INC. Buyback
OLI recorded this information on 10/26/2023
Company:
STEALTHGAS INC.
Buyback:
GASS buyback
$Amount Authorized:
$25,000,000
Buyback Details:
STEALTHGAS INC. (NASDAQ: GASS) (the "Company"), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today a $10 million increase to its existing common stock repurchase program for a total aggregate amount of $25 million. Shares of common stock may be purchased, from time to time, in open market or privately negotiated transactions, at times and prices that are considered to be appropriate by the Company, and the program may be suspended or discontinued at any time. As of the date hereof, the Company has repurchased an aggregate of approximately $19.1 million of common stock, including two million shares from an institutional investor for an aggregate purchase price of $10.2 million in a privately negotiated transaction.
StealthGas is a holding company. Through its subsidiaries, Co. owns a fleet of liquefied petroleum gas (LPG) carriers providing international seaborne transportation services to LPG producers and users, as well as crude oil and product carriers chartered to oil producers, refiners and commodities traders. Co.'s LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer. The three medium range product carriers in Co.'s fleet are capable of carrying refined petroleum products such as gasoline, diesel, fuel oil and jet fuel while its Aframax tanker is used for carrying crude oil.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 91st percentile
(ranked higher than approx. 91% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
