Friday, January 15, 2016 12:17:22 AM
Here is why.
just raised dividend from .04 to .12 per quarter.
Tanker day rates are not going down any time soon...if anything they will go up.
So why is it going down?
Big rating cut from analyst at JP Morgan..he cut from outperform to underperform....but has a price target of $7? So basically the market has over reacted to the rating cut.
The second reason is that TNK is now being compared to NAT in size and scope fleet. So TNK is probably going to go down to a bit until dividends yields of both match up. A good example how to companies are locked together is Visa and MasterCard. They basically both do the same thing? Is there really anything different about them so they trade in a tight range after take into consideration the number of shares of stock outstanding.
So why buy? The dividend payout is too good to overlook and historically the dividend payout is low...and there is room to grow in the cycle. Basically this is round 2 in the tanker market turn around.
Recent TNK News
- Teekay Corporation Announces Update on $25 Million Share Repurchase Program and Announces New Share Repurchase Program • GlobeNewswire Inc. • 09/09/2024 10:59:47 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/21/2024 04:15:04 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 08/20/2024 08:28:14 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/15/2024 08:42:18 PM
- Form F-4 - Registration of securities, foreign private issuers, business combinations • Edgar (US Regulatory) • 08/07/2024 09:11:20 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/07/2024 08:39:27 PM
- Teekay Corporation and Teekay Tankers Ltd. Announce Senior Management Changes • GlobeNewswire Inc. • 08/07/2024 08:05:27 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/02/2024 03:54:27 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/01/2024 03:25:31 PM
- Teekay Corporation Reports Second Quarter 2024 Results • GlobeNewswire Inc. • 08/01/2024 05:00:48 AM
- Teekay Tankers Ltd. Reports Second Quarter 2024 Results and Declares Dividend • GlobeNewswire Inc. • 08/01/2024 05:00:28 AM
- Teekay Group to Announce Second Quarter 2024 Earnings Results on August 1, 2024 • GlobeNewswire Inc. • 07/24/2024 08:00:38 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/10/2024 06:20:43 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/09/2024 03:44:49 PM
- Teekay Corporation Reports First Quarter 2024 Results • GlobeNewswire Inc. • 05/09/2024 05:00:38 AM
- Teekay Tankers Ltd. Reports First Quarter 2024 Results and Declares Dividends • GlobeNewswire Inc. • 05/09/2024 05:00:05 AM
- Teekay Group to Announce First Quarter 2024 Earnings Results on May 9, 2024 • GlobeNewswire Inc. • 05/01/2024 09:00:54 PM
- Teekay Group Publishes 2023 Sustainability Report and Announces Availability of Annual Reports on Form 20-F for the Year Ended December 31, 2023 • GlobeNewswire Inc. • 03/25/2024 08:00:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/05/2024 09:13:56 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 11:51:15 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 09:32:11 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 10:24:22 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/27/2024 02:59:31 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/22/2024 04:44:56 PM
- Teekay Corporation Reports Fourth Quarter and Annual 2023 Results • GlobeNewswire Inc. • 02/22/2024 06:00:22 AM
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