Teekay Tankers: Bulletproof Balance Sheet And 11% Loan To Value At A Reasonable Price [Seeking Alpha]
Teekay Tankers Ltd. (TNK)
Last teekay tankers ltd. earnings: 2/27 02:00 am
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US:NYSE Investor Relations:
teekay.com/investors/teekay-tankers-ltd
Company Research
Source: Seeking Alpha
The crude oil tanker market is showing declining fleet growth and increasing oil demand, which is expected to result in rising tonne-mile demand. TNK has $137 million debt as a sale-leaseback agreement for eight vessels. The company plans to repurchase those vessels by the end of 1Q24. The company's net income for 2023 is $513 million, while for 2022 is $229 million. FY23 diluted EPS more than doubled, reaching $14.86/share. The company trades at 89% P/NAV and has 11% LTV. I am happy to own TNK as a part of my portfolio. I give TNK a buy rating. Introduction Teekay Tankers ( NYSE: TNK ) offers a lot of value for its price. The company owns a concentrated portfolio of 25 Suezmax, 24 Aframax/LR2 tankers, and a 50% stake in one VLCC. The fleet concentration, in my opinion, has its advantages. DHT Holdings ( DHT ) is VLCC pure-play stock, Nordic American Tankers ( NAT ) is Suezmax pure-play, and TNK is a bet on growing mid-size crude tankers demand. The first two months of 20
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TNK
News
- Teekay Tankers Ltd. (NYSE:TNK) is favoured by institutional owners who hold 52% of the company [Yahoo! Finance]Yahoo! Finance
- Are Investors Undervaluing Teekay Tankers (TNK) Right Now? [Yahoo! Finance]Yahoo! Finance
- Returns On Capital Are A Standout For Teekay Tankers (NYSE:TNK) [Yahoo! Finance]Yahoo! Finance
- Teekay Tankers: Low Tanker Fleet Growth Points To Years Of High Profits [Seeking Alpha]Seeking Alpha
- Teekay Tankers (NYSE:TNK) shareholders have earned a 50% CAGR over the last five years [Yahoo! Finance]Yahoo! Finance
TNK
Earnings
- 2/22/24 - Miss
TNK
Sec Filings
- 4/19/24 - Form 6-K
- 3/15/24 - Form 20-F
- 3/5/24 - Form 144
- TNK's page on the SEC website