Why Tanker Stocks Sank This Week

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Shares of GasLog, Nordic American Tanker and Navios Maritime all sunk last week. Here's why.

Shares of GasLog, Nordic American Tanker and Navios Maritime all sunk last week. Here's why.

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  • https://www.flickr.com/photos/kumaravel/8152974246/in/photolist-jaL5-fo9LzZ-mW4fmZ-8uwEnk-bdD3NP-6oeTQw-6TETsS-efMpis-9fezZw-dqs8cu-5YSzFv-75PZFP-npzi8K-4t7e2C-efMpAs-duuaXE-efMpqY-5y2Rru-6TET4u-aHSm7F-9pzwxu-g8ch6N-9oA8a9-8WBP52-9fHRW3-ap1Zz4-9ox4Zc-2vAhTp-9oA81W-mvsv86-4mtM18-6iid7Z-txPUR-nfU1PZ-bDqUGD-2ZPC77-b5hQRp-jaLi-5D8w93-amGErR-amGEHK-amGEYM-amKtAy-6DYSuv-4VCekq-efPXGA-efJcQr-4VCemq-475K7w-9rbBNo
  • https://www.flickr.com/photos/59937401@N07/5930176734/in/photolist-a32GWs-chEfau-62QSKq-9qUDuJ-bZwG3C-8ip6Yn-CrMvv-a2Y6J8-64gotj-gjJMZC-a2Yc86-5tzhjp-9Zkom5-8i2WXz-fBsQs-nQZguc-7CrchT-7BfThk-jYGnx-9kNTbs-aiphLC-9FPrx5-du8MtP-4Hrq53-BhdpN-8JkcMH-4ZAk72-9hwDnd-9qUFub-9VAoaM-5z3f3L-fxFR1Q-548Abb-9VAAZU-bZwfxo-9hwDJ5-dGo5nf-9K71ih-aeFyin-9qUCso-7WAEm8-ev2AR5-bjB39c-9kMAcY-bZwg4J-eA2zRg-bZwHv5-6bwpmk-9VDo4N-dAu1EJ
  • http://www.zacks.com/stock/news/139242/share-of-gaslog-glog-fell-by-over-8-on-the-day
  • http://www.theflyonthewall.com/permalinks/entry.php/NNAid2034892/NNA-Navios-Acquisition-initiated-with-a-Hold-at-Canaccord?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=theflyonthewall.com
  • http://www.analystratings.net/stocks/NYSE/NAT/?RegistrationCode=SocialMedia-Unknown and http://www.nat.bm/IR/press_releases/1816213.html
  • https://www.flickr.com/photos/76657755@N04/7027588775/in/photolist-bH1eiH-f54gtt-9qRF8r-6QFDYU-4BfaUm-7987Vs-bH1gac-ght8m7-62QVb5-62LD8Z-6hSkjK-5KQyH9-chEaLb-5WEQZB-4sUYDb-aB7uKh-9PSLHY-fKKcRD-bxDiow-dSXXyh-9VADkr-9gYtwj-6c6Q6r-cEHZc1-bi1bhM-9qREU2-9KU6T1-8ip71R-9qUEUf-4e5gDL-8ip6YF-a32J27-8ddtDt-8PWifN-bZwdFC-9kNSHL-9kMUQb-4e1gT8-oh2EL-fEHuLF-5yL49b-5WsjQv-a32GWs-chEfau-62QSKq-9qUDuJ-bZwG3C-8ip6Yn-CrMvv-a2Y6J8 and http://www.nat.bm/IR/press_releases/1816213.html

Transcript

  • 1. Why Tanker Stocks Sank This Week Photo Credit: Flickr/Thangaraj Kumaravel
  • 2. Investors in oil tanker stocks saw those investments go up in flames this past week. Overall, three oil tanker stocks were in the bottom 20 performing energy stocks. Photo credit: Flickr/TaxRebate.org.uk
  • 3. GasLog (NYSE: GLOG) The owner of LNG carriers hit a rough patch this week as its stock was down more than 11%.
  • 4. Why GasLog’s stock dropped  Shares of GasLog gave up some ground this week after surging ahead for the past month.  Even after this week’s plunge the stock is still up nearly 14% over the past month.  Basically, this past week’s plunge was nothing more than profit taking by investors.
  • 5. Navios Maritime (NYSE: NNA) Shares of the owner and operator of tanker vessels sank more than 8% this week.
  • 6. Why Navios Maritime’s stock dropped  Research firm Canaccord Genuity initiated coverage on Navios Maritime Acquisition Corp. this week.  The company was rated a “hold” with a price target of $3.75.  Some investors, however, decided that with that rating, holding on to the stock was no longer an option.
  • 7. Nordic American Tankers (NYSE: NAT) Shares of the oil tanker company sank more than 6% this week.
  • 8. Why Nordic American Tankers’ stock dropped  Research firm Canaccord Genuity also initiated coverage of Nordic American Tankers this week.  Nordic American Tankers was given a “sell” rating with a $7 price target.  In addition to that, a shareholder letter from the Chairman was released, which said that the company’s second-quarter results won’t be at the same level as the first quarter.  The Chairman noted that the “market has fallen back.”
  • 9. Which tanker stock might have further to fall.  Nordic American Tanker’s revelation that its second-quarter results will sink is troubling.  Further, while its Chairman does see an “undercurrent in the market which may lead to increased rates again,” he ended that statement by saying “time will tell.”  That’s not exactly a bullish sentiment, suggesting that this stock might have further to sink. Photo credit: Flickr/TaxCredits.net
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