#2 - Teekay Tankers (NYSE:TNK)
Teekay Tankers Ltd. (NYSE: TNK) is a name that may not be familiar to many investors, but it’s a stock worth watching. The company is one of the world’s leading marine energy transportation companies with a focus on crude oil.
Despite geopolitical concerns, demand for oil remains strong, and the company is predicting multiple years of strength in the tanker market. Supporting this premise and oil prices, OPEC nations announced that they will begin unwinding their production cuts beginning in October 2024. This gives the company a firm floor for revenue and earnings.
Furthermore, TNK stock has been one of the best-performing stocks over the past five years, posting a total return of 512% in that time. The small-cap stock is not heavily covered by analysts, but three analysts that have a consensus target of $76.67, which is 34.6% higher than the stock’s price on September 19, 2024.
About Teekay Tankers
Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.
Read More - Current Price
- $43.21
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $63.67 (47.3% Upside)
