Week 10: How Did Crude Tanker Stocks Perform?

In this part of the series, we’ll see how analysts changed their recommendations in week ten of 2016. We’ll also see how various crude tanker stocks performed in the week. There were very few changes in analyst estimates for week ten—March 7–11, 2016—compared to analyst changes for week nine.

Pareto Securities lowered its target price for Frontline (FRO) from $13.43 to $11.22 and maintained its “buy” rating.

In week ten, General Maritime (GNRT), Teekay Tankers (TNK), and Frontline (FRO) ended in negative territory, while other crude tanker stocks ended in positive territory. Let’s look in detail at each company’s performance for last week.

[marketrealist-chart id=1136423]

DHT Holdings (DHT) posted the highest return of 8% for the week ended March 11, 2016. Tsakos Energy Navigation (TNP), Nordic American Tankers (NAT), and Euronav (EURN) had weekly returns of 1%. The returns for other crude tanker stocks are as follows:

• General Maritime (GNRT) and Teekay Tankers (TNK) fell by 2%.
• Frontline (FRO) fell by 3%.
• Navios Maritime Midstream Partners (NAP) fell by 8%.

Shipping companies account for 19.7% of the Guggenheim Shipping ETF (SEA). SEA fell by 1% for the same period. Investors who are interested in broader exposure to the industrials sector can invest in the SPDR Dow Jones Industrial Average ETF (DIA).

In this series, after looking at changes in analysts’ recommendations and stock performances for week ten, we’ll see how tanker rates moved during the week. We’ll also see what investors can expect for week 11. We’ll take a look at the cost side of the tanker industry, including bunker fuel costs and tanker industry valuations.