by Sam Collins | February 11, 2011 12:27 am
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.
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 firstname.lastname@example.org.
Source URL: http://investorplace.com/2011/02/teekay-nyse-tk-tanker-stock-suez-crude-oil/
Short URL: http://invstplc.com/1nB7aqf
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.