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Analyst Recommendations for Tsakos Energy Navigation before Q1
Tsakos Energy Navigation (TNP) is expected to release its first-quarter results on June 15. The stock has fallen 5.6% YTD as of May 30.
Gener8 Maritime Partners: Analysts Recommend a ‘Buy’
The consensus 12-month target price for Gener8 Maritime Partners is $6.8—a potential upside of 10.4% from the market price of $6.16 on May 25.
Tsakos Energy Navigation: No ‘Sell’ Ratings for 2 Years
According to Reuters, the consensus rating for Tsakos Energy Navigation is two, which means a “buy.”
NAP: Analysts’ Recommendations for May
Navios Maritime Midstream Partners earned revenues of $19.8 million in the first quarter—6.3% lower than the previous year.
DHT Holdings: Analysts Recommend a ‘Buy’
According to Reuters, the consensus rating for DHT Holdings (DHT) is 2.21, which means a “buy.”
Frontline: Analysts’ First-Quarter Estimates
According to Reuters, the consensus rating for Frontline (FRO) is 3.33, which means a “hold.”
Baltic Dirty Tanker Index Rose by 67 Points in Week 21
Most of the crude tanker stocks rose in week 21. Euronav and DHT Holdings were the best performers in the sector.
Analysts Estimate a 65% Fall in Frontline’s First-Quarter EBITDA
Analysts’ EBITDA estimate for Frontline in the first quarter is $33.2 million—a 65% decrease from $97.3 million in the first quarter of 2017.
DNB Market Raised Frontline’s Target Price
On May 29, DNB Market raised the target price for Frontline to 60 Norwegian kroner from 40 Norwegian kroner.
China’s April Trade Data and the Crude Oil Tanker Industry
China, which has the second-largest economy in the world, has a significant impact on the crude tanker industry.
Analysts’ Recommendations: Top 2 Crude Tanker Stocks
DHT Holdings has the best YTD return as of April 5, 2018, among its peers. Analysts’ consensus rating for DHT Holdings (DHT) is 2.25.
Tsakos Energy Navigation: Fifth-Best Performer in 2018
Tsakos Energy Navigation’s (TNP) YTD returns were -12.8% as of April 5, 2018. Tsakos Energy Navigation is the fifth-best performer among its peers YTD.
Gener8 Maritime Partners: Fourth-Best Performer in 2018
Gener8 Maritime Partners’ YTD returns were -10% as of April 5, 2018. Gener8 Maritime Partners is the fourth-best performer among its peers YTD.
Analysts’ Recommendations for Crude Tankers: A Comparison
Now that we’ve compared crude tanker companies’ 4Q17 performances, let’s discuss analysts’ recommendations.
Will the Trade War Impact the Crude Tanker Industry?
On March 22, 2018, President Trump announced the imposition of up to $60.0 billion on China’s imports. China plans $3 billion in retaliatory tariffs.
Analysts’ Recommendations for Crude Tanker Companies
In week 11, the week ending March 16, 2018, none of the analysts revised their recommendations or target prices for crude tanker companies.
Week 10: UBS Revised Tsakos Energy Navigation’s Target Price
In week 10, the week ending March 9, 2018, one analyst revised Tsakos Energy Navigation’s (TNP) target price.
Week 10: Crude Tanker Industry Overview
In week 10 of 2018, which ended on March 9, the BDTI dropped to 653 from 669. In week 9, the index rose by 23 points.
Tsakos Energy Navigation: Analyst Recommendations before 4Q17
Of the 13 analysts covering Tsakos Energy Navigation, two of them have recommended a “strong buy,” while six have recommended a “buy.”
Week 9: Evercore Revised Frontline’s Target Price
In week 9 of 2018, one analyst revised Frontline’s (FRO) target price. On March 1, Evercore reduced Frontline’s target price to $3.5 from $4.
Week 9: Crude Tanker Industry Update
In week 9 of 2018, which ended on March 2, the BDTI rose from 646 to 669. In week 8, the index fell by three points.
Week 8: Evercore Revised Frontline’s Target Price
In week 8, the week ending February 23, 2018, one analyst revised the target price for Frontline (FRO).
China’s January Auto Sales Impact the Crude Tanker Industry
The China Association of Automobile Manufacturers predicts 3% auto sales growth in 2018—the same as the growth rate in 2017.
Analyzing China’s January Purchasing Managers’ Index
In January 2018, China’s manufacturing PMI (purchasing managers’ index) was 51.3. The PMI fell from 51.6 in December.
China’s Crude Oil Imports Rose 20% in January
China released its trade data for January. In dollar terms, China’s exports rose 11.1% YoY (year-over-year), while its imports rose 36.9%.
Euronav and Gener8 Maritime Partners’ Merger
On December 21, 2017, Euronav (EURN) and Gener8 Maritime Partners (GNRT) announced a stock-for-stock merger.
Analysts’ Recommendations before NAP’s 4Q17 Results
Four analysts cover Navios Maritime Midstream Partners (NAP). According to Reuters, the consensus rating for the stock is 3.25, which means a “hold.”
Key Updates from the Crude Tanker Industry Last Week
In week three of 2018, which ended on January 19, the BDTI rose from 684 to 705.
J.P. Morgan Revises Target Price for Two Crude Tanker Companies
On January 19, 2018, J.P. Morgan reduced its target price for Euronav to $8 from $9.
Analyzing China’s December Auto Sales Data
In December 2017, China’s auto sales rose 0.1% YoY (year-over-year) to 3.1 million. China’s automobile sales have been rebounding since June.
Was China’s December PMI Data Positive for Crude Tankers?
In December 2017, China’s manufacturing PMI (purchasing managers’ index) was 51.6. The PMI fell from 51.8 in October.
China’s December Trade Data Impact the Crude Tanker Industry
China (FXI) released key economic data for December 2017—import and export data, auto sales data, and the manufacturing index.
Week 2: Analysts’ Ratings for Crude Tanker Stocks
In the week ending January 12, 2018, none of the analysts revised their recommendations on crude (DBO) tanker companies.
UBS Downgraded Gener8 Maritime Partners
On January 4, 2018, UBS downgraded Gener8 Maritime Partners (GNRT) to “neutral” from “buy” and raised the target price to $6.75 from $6.5.
Oil Price Reach 3-Year High: What about Bunker Fuel Prices?
On January 4, 2018, the average bunker fuel price was $431 per ton—compared to $413 per ton on December 21, 2017.
Frontline: Analysts Recommend a ‘Hold’
One analyst gave a “buy” recommendation, four analysts gave a “hold” recommendation, and one analyst gave a “sell” recommendation for Frontline stock.
Crude Tankers: Analysts’ Recommendations Heading into 2018
Crude tanker rates increased slightly in the fourth quarter. The rates were supported by refineries returning from seasonal maintenance.
Week 51: Analysts’ Recommendations for Crude Tanker Companies
None of the analysts revised their recommendations or target prices for crude (DBO) tanker companies in week 51 (week ending December 22, 2017).
Why Gener8 Maritime Partners Rose Steeply Last Week
On December 21, 2017, Euronav confirmed that it will acquire Gener8 Maritime Partners for ~$493 million in an all-stock transaction.
Analysts’ Recommendations for NAP, DHT, and TNP
Analysts’ consensus target price is $9.5 as of December 19. NAP is trading at $9.21, which implies a 3.1% return in the next 12 months at the current price.
Top 2 Crude Tanker Stocks: Analysts’ Recommendations
Euronav was the best performing stock in 2017 among its peers. Analysts’ consensus rating for Euronav (EURN) is 2.17, which means a “buy.”
Gener8 Maritime Partners: Second-Best Performing Stock
Gener8 Maritime Partners (GNRT) YTD (year-to-date) returns were -0.89% as of December 18, 2017. It was the second-best performer among its peers in 2017.
Euronav: Best Performing Stock in 2017 among Crude Tankers
Euronav’s (EURN) YTD (year-to-date) returns were 3.7% as of December 18, 2017. It was the best performer among its peers in 2017.
China’s Crude Oil Imports Are at Record Levels
In November, China’s crude imports rose to the second-highest level on record. In November, China’s crude oil imports were 37.04 million tons.
China’s November Data Impact the Crude Tanker Industry
China (FXI) released key economic data for November 2017—import and export data, auto sales data, and the manufacturing index.
Week 49: Deutsche Bank Revised Frontline’s Target Price
In week 49, which ended on December 8, one analyst revised its target price for Frontline. Deutsche Bank raised Frontline’s target price to $5 from $3.
Week 49: Oil Prices and Bunker Fuel Prices
On December 7, 2017, the average bunker fuel price was $400 per ton—compared to $407 per ton on November 30, 2017.
Teekay Investments Merges with Teekay Tankers
On November 27, 2017, Teekay Tankers (TNK) and Teekay Investments (TIL) announced the closure of the previously announced merger.
Frontline’s Target Price Was Cut in Week 47
In Week 47, Morgan Stanley reduced the target price for Frontline (FRO) to $5 from $5.50. In Week 46, Teekay Tankers’ (TNK) target price was reduced to $2 from $5 by Deutsche Bank.
What to Expect from Tsakos Energy Navigation’s 3Q17 Results
Tsakos Energy Navigation stock reached a 52-week low of $4.06 on November 16, 2017. The company’s stock has fallen 9.6% as of September 27, 2017.
China’s Manufacturing Sector Slowed Down
In October 2017, China’s manufacturing PMI was 51.6, which was higher than Reuters’ forecast of 52. The PMI fell from 52.4 in September.
China’s Crude Oil Imports: Lowest in the Last 13 Months
In October, China’s crude imports fell to the lowest level in the last 13 months. In October, China’s crude oil imports were 31.03 million tons.
Will China’s Crude Stocking Activity Fall in 2018?
According to Drewry’s shipping analyst, China’s stocking activity will fall to 0.25 Mbpd in 2018 from an average of 0.75 Mbpd in 2017.
Why TNK Thinks Merger with TIL Is of Strategic Importance
In the third quarter conference call, Teekay Tankers (TNK) gave updates on TNK’s merger with Tanker Investments (TIL).
Analysts Revised the Target Price for Teekay Tankers and NAT
In week 45, which ended on November 10, 2017, Teekay Tankers’ (TNK) target price was cut to $1.3 from $1.6 by Bank of America Merrill Lynch.
Oil Prices Reach a 2.5-Year High: What about Bunker Fuel Prices?
On November 10, 2017, the average bunker fuel price was $417 per ton—compared to $398 per ton on November 3, 2017.
Where Bunker Fuel Prices Are Headed, Oil Prices Crossed $60
On November 3, 2017, the average bunker fuel price was $398 per ton—compared to $376 per ton on October 26, 2017.
Week 44: Weekly Crude Tanker Industry Update
In week 44, many of the crude tanker stocks traded in the red. Only Frontline and Navios Maritime Midstream Partners traded in the green.
Citigroup Raised the Target Price for NAP after Its 3Q17 Results
On October 20, 2017, the day after its 3Q17 earnings release, Citigroup raised the target price for Navios Maritime Midstream Partners to $8 from $7.
Analysts’ Recommendations for Crude Tankers in Week 41
The crude (DBO) tanker index rose in week 41. Aframax rates had enormous gains, while VLCC and Suezmax rates also rose during the week.
Crude Tanker Industry Update for Week 41
In week 41, which ended on October 13, 2017, the BDTI rose to 903 from 776. In week 41, the index remained unchanged at 776.
Analyst Recommendations for Crude Oil Tankers in Week 40
None of the analysts have revised their recommendations or target prices for crude oil tanker companies in the past three weeks.
Crude Oil Tanker Industry: Performance in Week 40
In the 40th week of 2017, the BDTI fluctuated between 758 and 776. However, on the last day of the week, the index stood at 776, where it was at the start of the week.
What Analysts Expect for DHT Holdings’ 3Q Performance
DHT Holdings (DHT) stock closed at $4.02 on October 5, 2017. The stock has fallen 2.9% year-to-date.
FRO Stock Is 15% down Year-to-Date: What Do Analysts Have to Say?
Most crude oil tanker stocks haven’t had a good year so far. Frontline (FRO) is no exception.
Crude Tanker Stocks and the BDTI Index in Week 39
In week 39, the week ending September 29, the BDTI rose to 776 from 772. In week 38, the index rose by 28 points. It rose for the fifth consecutive week.
China’s Auto Sales Rose in August, Impacted Crude Tankers
In August 2017, China’s auto sales rose 4.1% YoY (year-over-year). Its total vehicle sales rose 5.3% to 2.19 million in August.
Analyst Recommendations for Crude Tanker Companies in Week 33
Article focus Previously in this series, we saw that crude tanker stocks fell again in Week 33 (ended August 18, 2017). Average VLCC (very large crude carrier) rates rose from multiyear lows, whereas Suezmax rates fell. The cost side proved beneficial for tankers as bunker fuel prices slipped. In this part, we’ll look at analysts’ target prices. […]
Analysts Cut the Target Prices for NAP and NAT
For Nordic American Tankers (NAT), five analysts recommended a “hold,” two analysts recommended a “sell,” and two analysts recommended a “strong sell.”
Analysts’ Consensus Recommendation for Euronav: A ‘Buy’
Currently, 13 analysts have given recommendations for Euronav (EURN). The consensus rating on the stock is 2.2, which means a “buy.”
Analysts’ Ratings for Crude Tankers in Week 26
None of the analysts revised the recommendations or target prices for crude tankers in week 26.
Will China’s Crude Oil Imports Keep Rising?
China’s crude oil imports were the second-highest ever in May 2017. Its highest crude oil imports came in March 2017 at ~9.2 MMbpd.
Why Crude Tanker Rates Matter
Crude tanker rates were looking strong at the start of 2017. But in February, rates started to tumble.
On Deck with Crude Tankers: Positives and Negatives
Crude tanker stocks have given mixed returns in 2017. Gener8 Maritime has been the best performer YTD, while Nordic American has been the worst.
China’s PMI Fell below 50: What That Means to Crude Oil Tankers
In May 2017, China’s manufacturing PMI (Purchasing Managers’ Index) was 51.2, which was higher than the expectation of 51.0.
BDTI Fell in Week 22 after Rising for 2 Consecutive Weeks
In week 22, which ended on June 2, 2017, the BDTI (Baltic Dirty Tanker Index) fell from 807 to 742. Crude tanker stocks had mixed returns in week 22.
Analysts Revised Target Prices for These Crude Tankers in May
In May 2017, Citi Group reduced the target price for Gener8 Maritime (GNRT) to $7 from $8.
Analysts Revised the Target Price For Gener8 Maritime Partners
In week 19, Citigroup cut the target price for Gener8 Maritime Partners. Three analysts recommended a “strong buy” and four recommended a “buy.”
Understanding Navios Maritime Midstream Stock Fall
In 1Q17, NAP’s revenue fell 12.6% to $21.1 million, as compared to $24.15 million in 1Q16.
Crude Tanker Index Rose in Week 16
In week 16, the BDTI was higher than the previous year’s level. On average, the index was 4% higher than the same period last year.
Crude Tanker Index and Stocks Fell in Week 14
In week 14, the BDTI (Baltic Dirty Tanker Index) fell from 790 to 775. The BDTI tracks shipping rates for crude oil tankers on representative routes.
A Week 6 Review of the Crude Tanker Industry
In the week ended February 10, 2017, the BDTI (Baltic Dirty Tanker Index) fell from 858 to 847. The index fell on three out of five days in the week.
Analyzing Navios Maritime Midstream Partners’ 4Q16 Earnings
On January 25, Navios Maritime Midstream Partners announced its 4Q16 revenue and earnings after the markets closed. Its revenue fell 11% to $22.8 million.
Analysts’ Estimates and Recommendations for GNRT
Revenue and earnings estimates Wall Street analysts estimate that General Maritime Partners’ (GNRT) revenue will be ~$95 million in the fourth quarter, compared with $69 million in 3Q16 and ~$100 million in 4Q15. While revenue is expected to be lower year-over-year, EBITDA (earnings before interest, tax, depreciation, and amortization) are estimated to higher. Analysts expect 4Q16 EBITDA […]
The Rise and Fall Saga Continues for the Crude Oil Tanker Index
In week 49, which ended on Friday, December 9, 2016, the BDTI (Baltic Dirty Tanker Index) rose from 889 to 903. In the previous week, the index fell.
Tsakos Energy Navigation: Earnings Highlights
Tsakos Energy Navigation’s (TNP) net income for the first nine months of 2016 was $43.8 million. Its EBITDA was $151 million for the same period.
Digging into Frontline’s 3Q16 Results
Frontline (FRO), a crude oil carrier based in Hamilton, Bermuda, released its 3Q16 earnings on November 29, 2016. Its net income was $5.5 million, which is $0.03 per share.
Week 47: Overview of the Crude Tanker Industry
In week 47, which ended on November 25, 2016, the BDTI (Baltic Dirty Tanker Index) rose from 828 to 892. The index rose sharply by 28 points on Tuesday.
How Was China’s Manufacturing PMI in October?
In October 2016, China’s manufacturing PMI (purchasing managers’ index), which is an indicator of the country’s economic health, came in at 51.2 (MCHI) (FXI).
Crude Tanker Stocks Rose during Election Week
The BDTI (Baltic Dirty Tanker Index) was at 740 on November 14, 2016. The BDTI tracks shipping rates for crude oil (DBO) on representative routes.
Week 44 Was Another Week of Falling Tanker Stocks
Week 44 ended on November 4, 2016. The BDTI (Baltic Dirty Tanker Index) rose from 660 to 665 at the beginning of the week.
NAP Stock Rose 12.0% after 3Q16 Results
On October 26, 2016, Navios Maritime Midstream Partners (NAP) announced its 3Q16 revenue and earnings. NAP stock rose 12.0% that day compared to the previous day’s closing price.
Week 42: Where Are Bunker Fuel Prices Heading?
For the week ending October 21, 2016, the average bunker fuel price was $321–$324 per ton. Bunker fuel prices are 8% higher than the same period in 2015.
Fearnley Securities Upgrades Crude Tanker Stocks in Week 39
Fearnley Securities upgraded Teekay Tankers (TNK) from “sell” to “buy” and increased the target price to $3.30.
US Oil Export Destinations Widen: The Crude Oil Tanker Benefit
The lifting of the US oil export ban is expected to change the trade dynamics of crude oil tankers. This is the first full year in which US crude oil is available for exports.
Performance of Baltic Dirty Tanker Index in Focus
The BDTI (Baltic Dirty Tanker Index) stood at 554 on September 12, 2016. For the week ended September 9 (Week 36), the BDTI rose to 542 from 516 at the beginning of the week.
Morgan Stanley Downgrades Crude Tanker Stocks, Remains Cautious
In Week 34, Morgan Stanley downgraded a few crude tanker stocks while reducing the target prices for others. Let’s take a look at these changes.
How the Crude Tanker Industry Performed in Week 34
The BDTI (Baltic Dirty Tanker Index) rose from 504 at the beginning of Week 34 to 515 on August 26, 2016. The index rose four days out of five in the week.
Week 31: Baltic Dirty Tanker Index Continues Its Slide
The BDTI (Baltic Dirty Tanker Index) stood at 505 on August 8, 2016. For the week ending, August 5 (week 31), the BDTI fell to 509 from 541 at the beginning of the week.
Week 30: Baltic Dirty Tanker Index Shows Bad Week for Investors
The BDTI (Baltic Dirty Tanker Index) stood at 532 on August 1, 2016. For the week ending July 29 (week 30), the BDTI fell to 541 from 582 at the beginning of the week.