Analyst Peter Christensen of Cleaves Securities boasts a 100% success rate for his picks on these two industrial goods stocks. New York-based International Seaways Inc. (NYSE:INSW) and Vancouver, Canada-based Teekay Tankers Ltd. (NYSE:TNK) are engaged in the transportation of crude oil and petroleum products.
The demand for shipment of these natural gas resources was propelled by supply chain bottlenecks and war-led increases in oil and gas prices. Thus, both these stocks have skyrocketed this year. INSW stock has zoomed nearly 132% year to date, while TNK stock has gained 141.1% so far this year.
International Seaways Inc. (NYSE:INSW)
International Seaways owns and operates a fleet of crude, product, and chemical tankers worldwide. Through its well-experienced team, INSW provides shipping services to customers through voyage charters, commercial pools, and time charters.
Christensen has given a total of six ratings on International Seaways stock since November 2021 to date. Notably, all his Buy recommendations on the stock have a success rate of 100%, generating an average return per call of a massive 73.08%.
This implies that if an investor had followed Christensen’s investment calls on INSW stock, he would have gained 73.08% on average in the past year.
Is International Seaways Stock a Buy, Hold, or Sell?
With four unanimous Buys, INSW stock commands a Strong Buy consensus rating. On TipRanks, the average International Seaways price target of $43 implies 23.2% upside potential to current levels.
Teekay Tankers Ltd. (NYSE:TNK)
Teekay Tankers is known as one of the largest marine energy transportation companies. Notably, Teekay is the largest operator of mid-sized tankers, including suezmax, aframax, and long-range two (LR2) vessels.
Similar to INSW, Analyst Christensen has given a total of six Buy calls on TNK stock since November 2021 to date. Impressively, all his six ratings on the stock were profitable, generating an average return per rating of a whopping 78.37%.
Should I Buy or Sell Teekay Tankers Stock Right Now?
Despite gaining massively in 2022, the average Teekay Tankers price target of $44.50 implies another 57.5% upside potential to current levels. On TipRanks, TNK stock has a Moderate Buy consensus rating based on two Buys.
Ending Thoughts
Wall Street analysts undertake thorough research of companies in their coverage, including the impact of both micro and macro factors. Seeing Christensen’s experience and success rate on calls, following his stock recommendations may prove profitable for investments. Notably, TipRanks also accumulates the recommendations of several Top Experts, which can be considered while making investment choices to maximize returns.
