NEW YORK, September 21, 2016 /PRNewswire/ --
The Shipping segment is expected to lose $5 billion this year due to overcapacity and flat global demand, forcing major carriers to merge with rival companies. Today, Stock-Callers.com has initiated coverage on Teekay Tankers Ltd (NYSE: TNK), Top Ships Inc. (NASDAQ: TOPS), Teekay Offshore Partners L.P. (NYSE: TOO), and Kirby Corp. (NYSE: KEX) to see where they sit in the market right now. Learn more about these stocks by downloading their free report at: http://stock-callers.com/registration
Shares in Hamilton, Bermuda-based Teekay Tankers Ltd ended Tuesday's session at $2.47, which was a decline of 1.98%. The stock recorded a trading volume of 1.22 million shares. The Company's shares are trading 12.19% below their 50-day moving average. Moreover, shares of Teekay Tankers, which engages in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide, have a Relative Strength Index (RSI) of 37.46.
On August 4th, 2016, Teekay Tankers reported GAAP net income attributable to the partners and preferred unit-holders of $22.48 million, or $0.14 per share, in Q2 2016, compared to GAAP net income attributable to the partners and preferred unit-holders of $45.15 million, or $0.38 per share, in Q2 2015. The company generated free cash flow of $59.60 million in Q2 2016. The free research report on TNK is available at: http://stock-callers.com/registration/?symbol=TNK
Maroussi, Greece-based Top Ships Inc.'s stock jumped 8.33%, closing the day at $3.38 with a total trading volume of 312,359 shares. The Company's shares have advanced 92.05% in the previous three months and 5.63% on an YTD basis. The stock is trading 14.45% above its 200-day moving average. Additionally, shares of Top Ships, which provides seaborne transportation services worldwide, have an RSI of 41.53.
On August 10th, 2016, Top Ships announced that the SEC has declared effective the company's registration statement on Form F-1 relating to underlying common shares of warrants issued in connection with its follow-on offering launched in June 2014. While the Registration Statement is effective the Warrant holders are required to cash exercise the Warrants. As disclosed in the Company's annual report on Form 20-F and the Registration Statement, each warrant currently purchases 0.89 common shares at the exercise price per Warrant Share of $2.80, as may be further adjusted. The complimentary report on TOPS can be downloaded at: http://stock-callers.com/registration/?symbol=TOPS
Teekay Offshore Partners
On Tuesday, shares in Hamilton, Bermuda headquartered Teekay Offshore Partners L.P. recorded a trading volume of 1.02 million shares, which was higher than their three months average volume of 792,760 shares. The stock ended the day 2.84% lower at $5.13. The Company's shares are trading below their 200-day moving average by 3.10%. Furthermore, shares of Teekay Offshore Partners, which provides marine transportation, oil production, storage, long-distance towing, offshore installation and maintenance, and safety services to the offshore oil industry in the North Sea and Brazil, have an RSI of 40.28.
On August 4th, 2016, Teekay Offshore Partners reported GAAP net loss attributable to the partners and preferred unit-holders of $102.6 million and adjusted net income attributable to the partners and preferred unit-holders of $23.6 million in Q2 2016 compared to GAAP net income attributable to the partners and preferred unit-holders of $104.2 million and adjusted net income attributable to the partners and preferred unit-holders of $39.5 million in Q2 2015. The company generated distributable cash flow of $45.9 million, or $0.42 per common unit, in Q2 2016. Visit us today and download our complete research report on TOO for free at: http://stock-callers.com/registration/?symbol=TOO
Houston, Texas headquartered Kirby Corp.'s stock rose 2.61%, finishing yesterday's session at $58.49. A total volume of 1.00 million shares was traded, which was above their three months average volume of 809,390 shares. The Company's shares have advanced 5.62% in the last one month and 11.16% on an YTD basis. The stock is trading above its 50-day moving average by 3.60%. Additionally, shares of Kirby, which operates domestic tank barges and transports bulk liquid products, have an RSI of 59.26.
On September 20th, 2016, research firm RBC Capital Markets upgraded the Company's stock rating from 'Sector Perform' to 'Outperform'. The research firm also revised upwards its previous target price from $55 to $68. Get free access to your technical report on KEX at: http://stock-callers.com/registration/?symbol=KEX
Stock Callers (SC) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. SC has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
SC has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by SC. SC is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
SC, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. SC, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, SC, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither SC nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://stock-callers.com/legal-disclaimer/
CONTACT For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: Email: email@example.com Phone number: +44 330 808 3765 Office Address: Clyde Offices, Second Floor, 48 West George Street, Glasgow, U.K. -G2 1BP
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Chelmsford Park SA