Teekay Tankers: Still-High Tanker Rates, Debt Repayments, Bullish Price Consolidation

Oct. 15, 2023 2:45 AM ETTeekay Tankers Ltd. (TNK) StockTNK1 Comment

Summary

  • The oil transportation industry has seen a decline in performance over the past year, but is still higher YTD.
  • Teekay Tankers stock is a recommended buy with attractive valuation metrics and strong quantitative grades.
  • The stock is currently in a consolidation pattern, but the long-term trend remains bullish.
  • I outline key price levels to watch ahead of earnings due out in early November.

Front view of a large LNG or liquid gas tanker vessel

SHansche

Following a solid bull market in early 2022 amid higher global shipping rates and geopolitical tensions, the oil transportation industry has been less stellar in the past year. I track absolute and relative performance trends in the U.S. Global Sea to

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