Mon, Oct. 6, 10:33 AM
- Teekay (TK +0.2%) is not enjoying the typical Barron's bounce, after a weekend profile of the oil and gas marine transporter and servicer is touted as offering a potential 30% upside.
- With TK, "you’re getting global exposure to emerging economies, and you’re not getting the currency exposure you would with a company like Petrobras or any emerging-markets equity,” says Clearbridge Investments' Chris Eades.
- The stock jumped 16% last week, to above $67, after TK announced plans to triple its $1.265 annual dividend by 2018.
- TGP +0.2%, TOO +0.9%, TNK +0.2%.
Fri, Oct. 3, 4:29 PM
Tue, Sep. 30, 12:45 PM
Tue, Sep. 30, 12:32 PM
- Teekay (TK +13.8%) says it will change its dividend policy to link its quarterly payouts to growing cash flows from its two MLPs, Teekay LNG Partners (TGP -0.2%)and Teekay Offshore Partners (TOO -1.7%), and includes an 80% increase in its annual dividend effective Q1 2015.
- The moves prompt Deutsche Bank to upgrade shares to Buy from Hold with a $90 price target, raised from $68; the firm says TK’s "bold" new strategy should result in a 20%/year growth in TK’s dividend for the foreseeable future.
Tue, Sep. 30, 9:11 AM
Tue, Sep. 16, 3:57 PM
- Ocean shipping of dry bulk commodities and oil will nearly double earnings capacity during the next several years while the smaller container ship industry will tread water, Deutsche Bank says.
- The firm believes the industry is "on the cusp of entering a new era of prosperity," driven by improved supply/demand dynamics, increased fleet utilization and abundant capital to fund profitable growth.
- On average, DB forecasts a near doubling of earnings power across its coverage universe by 2016 vs. 2013, led by shippers in the Dry Bulk and Oil trades.
- Initiated with Buy ratings: TNK +9.8%, CPLP +2.5%, DSX +2.8%, DRYS +5.5%, DLNG +2.4%, NNA +2.1%, SALT +0.8%, SSW +1.3%, GASS +3.3%.
- Started at Hold: TK +1.2%, NMM +0.3%, FRO +3.3%, TGH -0.6%.
Thu, Aug. 7, 5:30 AM
Thu, Jul. 3, 9:03 AM
Thu, May. 15, 6:16 AM
Wed, May. 14, 5:30 PM
Mon, May. 12, 11:24 AM
- Nordic American Tanker (NAT +4.1%) is higher after reporting Q1 EPS of $0.05 vs. a $0.31 loss in Q4 2013 and a $0.59 loss in the year-ago quarter, and net operating cash flow of $27.1M vs. $1.9M in Q4 2013 and -$4.9M in the year-ago quarter.
- Says tanker rates achieved on average for Q1 were $26.3K/day per vessel for its trading fleet, vs. $14.1K/day in Q4 2013.
- Other tanker shares also are higher: VLCCF +5.9%, FRO +4%, TNK +3.1%, TK +1.5%.
Wed, Apr. 23, 8:35 AM
- The Yamal LNG project in Russia's Arctic reportedly has chosen Canada's Teekay LNG (TK, TGP), Japan's Mitsui and Russia's Sovkomflot to build 16 liquefied natural gas carriers worth $5B.
- The project is scheduled to start producing gas in 2016 and supply 16.5M metric tons of the tanker-shipped fuel in 2018; Russia's Novatek holds a 60% stake in the $27B, while France's Total (TOT) and China's CNPC (SNP) own 20% each.
Fri, Apr. 4, 4:37 PM
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