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Full Speed Ahead for Tanker Stock Teekay (TK)

Suez canal woes will benefit 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.

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%.

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