Navios Maritime Midstream Partners LP(NYSE:NAP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $22.70M. Analysts estimated a revenue of $23.17M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.33.
Navios Maritime Midstream Partners LP (NAP) made into the market gainers list on Thursdays trading session with the shares advancing 0.29% or 0.04 points. Due to strong positive momentum, the stock ended at $13.92, which is also near the day’s high of $14.04. The stock began the session at $13.92 and the volume stood at 3,11,236 shares. The 52-week high of the shares is $15.21 and the 52 week low is $6.58. The company has a current market capitalization of $282 M and it has 2,02,78,304 shares in outstanding.
Navios Maritime Midstream Partners LP has also declared a cash dividend of $0.4225 on Jul 21, 2016. The shares will quote ex-dividend on Aug 8, 2016 and the record date has been fixed on Aug 10, 2016. The dividend payable date has been fixed on Aug 12, 2016.
Navios Maritime Midstream Partners L.P. is a holding company. The Company is a limited partnership formed to own operate and acquire crude oil tankers under long-term employment contracts. The Company may also seek to own operate and acquire refined petroleum product tankers chemical tankers and liquefied petroleum gas (LPG) tankers under long-term employment contracts. The Company intends to charter its vessels under long-term employment contracts to international oil companies refiners and large vessel operators. The Company’s fleet consists of four VLCCs which have an average remaining employment term of approximately 7.3 years. They are chartered to two strong counterparties Cosco Dalian which is wholly owned by the COSCO Group a Chinese state-owned enterprise and Formosa Petrochemical. The Company provides seaborne shipping services under long-term time charters. The Company’s customers include Cosco Dalian and Formosa Petrochemical.