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
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