Full Speed Ahead for Tanker Stock Teekay (TK)

Suez canal woes will benefit TK

   
Full Speed Ahead for Tanker Stock Teekay (TK)

Teekay Corp (NYSE: TK) – This provider of international crude oil and petroleum transportation services, with a fleet of over 150 vessels in 16 countries, is in a position to benefit from a closing or slowdown of the movement of crude oil and petroleum products through the Suez Canal.

Rates on carriers of petroleum products could skyrocket under such conditions, and Teekay Corp. could be a chief beneficiary of the higher rates.

tk pix e1297391449607 Full Speed Ahead for Tanker Stock Teekay (TK)

Technically TK broke above a well-established bull channel in October which alone is a bullish signal.  Now it is poised to break from a consolidation line at $35, which if exceeded could vault the stock to our trading target of $38 or higher.

TK pays an annual dividend of $1.26, providing a dividend yield of 3.73%.

If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.


Article printed from InvestorPlace Media, http://investorplace.com/2011/02/teekay-nyse-tk-tanker-stock-suez-crude-oil/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.