|Bid||4.470 x 1200|
|Ask||4.480 x 2200|
|Day's Range||4.450 - 4.620|
|52 Week Range||3.270 - 4.990|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 6, 2018 - Aug 10, 2018|
|Forward Dividend & Yield||0.08 (1.66%)|
|1y Target Est||5.31|
In week 26, which ended on June 29, none of the analysts revised their recommendations or target prices for crude tanker companies.
When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 26, which ended on June 29, the BDTI fell from 754 to 712. In week 25, the index dropped by one point. The index shows the direction that crude tanker rates are heading. The index has risen ~1.7% since the beginning of the year.
In this part, we’ll discuss Wall Street analysts’ target prices for the two crude tanker stocks with the best returns YTD (year-to-date). DHT Holdings (DHT) was the best-performing stock among peers on a YTD basis. About 71% of Wall Street analysts tracking DHT Holdings stock recommended a “buy” or some equivalent as of June 28.
DHT Holdings’ (DHT) YTD (year-to-date) returns stood at 30.6% as of June 28. It is the best performer among its peers so far this year. DHT Holdings has outperformed the shipping ETF and also outperformed the broad equity market indexes. Since the start of the year, the Invesco Shipping ETF (SEA) has fallen 12.1%. Oil and gas transportation companies account for 47.7% of SEA. The Dow Jones Industrial Average (DIA) has fallen 2.1% YTD as of June 28. The SPDR S&P 500 ETF (SPY) has risen 1.5% during the same period.
HAMILTON, BERMUDA, July 3, 2018- DHT Holdings, Inc. today announced that it has entered into agreements to install exhaust gas cleaning systems, also know as scrubbers, on twelve of its VLCCs. The Company ...
Previously, we discussed analysts’ recommendations for crude tanker stocks. Let’s now compare analysts’ revenue and EBITDA estimates for these companies in Q2 2018.
NEW YORK, July 02, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of SAP ...
Previously, we discussed crude tanker companies’ EBITDA. In this article, we’ll discuss their FCF (free cash flow). FCF, which is operating cash flow minus capital expenditure, represents the cash a company can generate after spending money to maintain or expand its asset base.
In May, China’s automobile sales rose 9.6% YoY (year-over-year) to 2.29 million. In April, vehicle sales rose 11.5%, and in March sales rose 4.7%. Automobile sales are a key indicator of China’s economic (FXI) health.
In dollar terms, China’s (FXI) exports rose 12.6% YoY (year-over-year) while its imports rose 26% in May. In April, China’s exports rose 12.9% YoY, while its imports rose 21.5%. China’s May trade data was better than expected for exports as well as imports.
China, which has the second-largest economy in the world, also has a significant impact on the crude oil tanker industry. It imports 60% of the oil it needs. Most of that oil travels by sea using crude oil tankers, especially VLCCs (very large crude carriers).
OPEC meetings usually have an effect on oil tanker stocks. This leaves room for other OPEC countries to compensate for the shortfall, making it unlikely the low oil prices seen in 2016 will return. Freight rates fell by 65% in 2017, which decimated tanker stocks.
Wells Fargo’s analyst Michael Webber upgraded three crude tanker stocks and revised their target prices. According to Wells Fargo, the tanker market is uniquely positioned to take advantage of the likely increase in oil production.
The tanker group as a whole is "uniquely positioned" to take advantage of a likely increase in oil production and potentially significant IMO 2020 tailwinds, according to Wells Fargo. The Analyst ...
HAMILTON, BERMUDA, June 18, 2018- DHT Holdings, Inc. announced the results of its 2018 Annual Meeting of Shareholders. The Annual Meeting was held on Thursday, June 14, 2018. At the Annual Meeting, the ...
Four stocks have been lined up for review, and they are: DHT Holdings Inc. (NYSE: DHT), Diana Containerships Inc. (NASDAQ: DCIX), Diana Shipping Inc. (NYSE: DSX), and DryShips Inc. (NASDAQ: DRYS). Hamilton, Bermuda headquartered DHT Holdings Inc.’s stock finished Wednesday’s session 0.48% higher at $4.17 with a total trading volume of 487,346 shares.
DHT Holdings, Inc. (DHT) ("DHT" or the "Company") today announced that Eirik Ubøe, Chief Financial Officer, is leaving the Company after 13 years of service. Eirik has been a valuable member of our team and we wish him every success in his future endeavors." said Co-Chief Executive Officers Trygve P. Munthe and Svein Moxnes Harfjeld in a joint statement. Ms. Halvorsen will serve as Chief Financial Officer effective immediately.
According to Reuters, the consensus rating for Nordic American Tankers (NAT) is 3.3, which means a “hold.” Teekay Tankers (TNK) also has a consensus “hold” rating, while Gener8 Maritime (GNRT) has consensus “buy” rating.
Tsakos Energy Navigation (TNP) is expected to release its first-quarter results on June 15. It’s one of the last companies among its peers to release its first-quarter earnings.
Crude tanker rates struggled in 2017. The rates have continued to decline in 2018. Crude tanker rates have been impacted by supply and demand concerns. The primary reasons behind the fall are OPEC’s oil production cuts, low cargo demand, and high fleet growth. The Middle East countries, especially Saudi Arabia and Angola—OPEC’s largest African producer, have reduced their oil production more than the pre-decided output cut. The compliance to production cuts has been more than 100%, which caused cargoes to decline from the Middle East.
The company achieved a spot TCE (time charter equivalent) of $14,99 per day for VLCCs (very large crude carriers). Teekay Tankers’ (TNK) first-quarter revenue was $88.4 million—12% lower year-over-year. In the first quarter, Frontline took delivery of three newbuilds—one VLCC and two LR2 tankers.
When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 21, which ended on May 25, the BDTI rose from 714 to 781. In week 20, the index rose by 57 points. The index shows the direction that crude tanker rates are heading. The index has risen ~12% since the beginning of the year.
Wall Street analysts estimate net revenues of $85.2 million for Frontline (FRO) in the first quarter. A sequential fall from $178.5 million in the previous quarter and a 30% fall from $121.9 million in the first quarter of 2017.
According to Weber’s weekly report, fresh appearances on the Middle East position list saw the May surplus rise to a fresh multiyear high. As a result, the rates fell at the beginning of the week 20. However, the rates rebounded modestly later in the week.