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Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17

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Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17 PART 1 OF 11

Analysts’ Take on Crude Oil Tanker Companies’ 2Q17 Earnings

Best and worst performers

Crude oil tanker stocks have had mixed returns since the start of the year. Gener8 Maritime (GNRT) was the best year-to-date performer with its stock rising 25.0%. On the other hand, Nordic American Tankers (NAT) was the worst performer with its stock falling 27.0%.

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Below are the year-to-date stock returns of crude oil tanker companies as of July 10, 2017:

  • Euronav (EURN): fell 3.1%
  • Teekay Tankers (TNK): fell 23.4%
  • Frontline (FRO): fell 18.8%
  • Tsakos Energy Navigation (TNP): rose 5.1%
  • Nordic American Tankers (NAT): fell 26.9%
  • DHT Holdings (DHT): rose 3.6%
  • Navios Maritime Midstream Partners (NAP): fell 9.8%
  • Gener8Maritime (GNRT): rose 25.0%

Shipping companies account for 19.7% of the Guggenheim Shipping ETF (SEA), which has risen 4.9% YTD (year-to-date). For the same period, the SPDR Dow Jones Industrial Average ETF (DIA) rose 8.3%.

Series overview

In our series What’s Keeping Crude Tankers Afloat? we saw that crude oil tanker rates have fallen significantly. That will surely have a negative impact on earnings in the second quarter. In July, most of the crude oil tanker companies will release their 2Q17 earnings. In this series, we’ll take a look at analysts’ estimates for revenue and EBITDA (earnings before interest, tax, depreciation, and amortization) for 2Q17 as well as 2017. We’ll also take a look at recent analysts’ revisions and recommendations.

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