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Chart of the Day: Teekay Tankers -- Chosen Again - Hard to Ignore
The Chart of the Day belongs to the marine tanker company Teekay Tankers (TNK). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 2 /3 the stock gained 47.04%.
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products. It also provides tanker commercial and technical management services. As of December 31, 2021, the company owned and leased 48 double-hull oil tankers, time-chartered in two Aframax tankers, and one LR2 tanker. Teekay Tankers Ltd. was incorporated in 2007 and is headquartered in Hamilton, Canada.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 257.50+Weighted Alpha
- 266.77% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 50.33% in the last month
- Relative Strength Index 84.21%
- Recently traded at $47.32 with 50 day moving average of $33.14.
Fundamental Factors:
- Market Cap $1.57 billion
- P/E 7.08
- Revenue projected to grow 34.60% this year and another .80% next year
- Earnings estimated to increase 63.80% this year and continue to compound at an annual rate of 3.00% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 4 strong buy, buy and 1 hold opinions on the stock
- Their price targets are $40 to $61 with a consensus of $50.78
- sThe individual investors following the stock on Motley Fool voted 262 to 15 for the stock to beat the market with the more experienced investors voting 25 to 0 for the same result
- Value Line give the stock an above average 2 rating
- CFRAs MarketScope recommends a Hold
- 15.000 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
