Teekay - Good spot for some inflation hedge
It is looking currently like we are in a scenario that with a quick running inflation period possibly looming, and markets being considered for a 20% dive, the tankers might be a nice soft spot to land.
Oil went through a negative contango, as well as a massive over-profit for spot charters. Currently TNK is sitting about 47% off of the highs from 2020, and relative to where we were in 2017. It's stock price to sales is .5 , as well as a healthy balance sheet of D/E at .5 as well; leaving it to being undervalued, as often goes with tankers. It is about 55% above the lows, but I believe there is still some more left in this one for 2021.
Look for a breakout above 15.70 to its next resistance around 18 - 18.50.
Oil went through a negative contango, as well as a massive over-profit for spot charters. Currently TNK is sitting about 47% off of the highs from 2020, and relative to where we were in 2017. It's stock price to sales is .5 , as well as a healthy balance sheet of D/E at .5 as well; leaving it to being undervalued, as often goes with tankers. It is about 55% above the lows, but I believe there is still some more left in this one for 2021.
Look for a breakout above 15.70 to its next resistance around 18 - 18.50.
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