Top Oil Tanker Stocks for Q2 2022

TK, INSW, and SFL are the top for value, growth, and momentum, respectively

The oil tanker industry is involved in the transportation and storage of crude oil, natural gas, and related products. Companies in the industry own, operate, or lease various types of oil tankers and facilities. Some of the biggest oil tanker companies include Belgium-based Euronav N.V.; Monaco-based Scorpio Tankers Inc.; and Teekay Corp., which has ownership interests in publicly traded sister companies Teekay Tankers Ltd. and Teekay LNG Partners L.P.

There is no unique benchmark for the oil tanker industry. However, oil tanker stocks may—though not always—exhibit similar performance to companies operating within the broad energy sector. Energy stocks, as represented by the Energy Select Sector SPDR ETF (XLE), have outperformed the broader market. XLE has provided a total return of 56.4% over the past year, above the Russell 1000’s total return of 13.1%.

Here are the top three oil tanker stocks with the best value, fastest growth, and most momentum. The market performance numbers above and all statistics in the tables below are as of March 18, 2022.

Best Value Oil Tanker Stocks

These are the oil tanker stocks with the lowest 12-month trailing price-to-sales (P/S) ratio. For companies in the early stages of development or industries suffering from major shocks, this can be substituted as a rough measure of a business's value. The P/S ratio shows how much you're paying for the stock for each dollar of sales generated.

Best Value Oil Tanker Stocks
  Price ($) Market Capitalization (Market Cap) ($B) 12-Month Trailing P/S Ratio
Teekay Corp. (TK) 3.20 0.3 0.3
Teekay Tankers Ltd. (TNK) 12.96 0.4 0.8
Scorpio Tankers Inc. (STNG) 18.20 1.1 1.8

Source: YCharts

  • Teekay Corp.: Teekay Corp. is a Bermuda-based holding company that provides international crude oil, gas, and other marine transportation services. Teekay provides these services directly and through its controlled ownership interest in Teekay Tankers Ltd. (TNK). It also operates two other companies; Teekay Offshore Partners, an offshore oil company, and Teekay LNG Partners, a liquid national gas business.
  • Teekay Tankers Ltd.: Teekay Tankers Ltd. provides crude oil and refined petroleum products through a fleet of oil and product tankers. Teekay Tankers is the tanker segment of Teekay Corp. and operates its vessels through a mix of short or medium-term fixed-rate time charter contracts and spot tanker market trading. On Feb. 24, the company reported financial results for Q4 2021 and the full year ended Dec. 31. Teekay Tankers posted a $39.8 million net loss, sharply narrower than the same quarter a year earlier. The GAAP net loss included an $11.6 million equity loss due to a write-down of an equity-accounted investment. Full-year results were weak. Teekay Tankers attributed the weak earnings to low spot tanker rates. The company said it expects a strengthening tanker market as trade volumes recover.
  • Scorpio Tankers Inc.: Scorpio Tankers engages in the provision of international marine transportation of refined petroleum products. The company operates its vessels through a mix of commercial pools, time charters, and spot market charters. Its fleet comprises wholly owned, finance leased, or bareboat chartered-in tankers. Scorpio Tankers is headquartered in Monaco.

Fastest-Growing Oil Tanker Stocks

These are the top oil tanker stocks as ranked by a growth model that scores companies based on a 50/50 weighting of their most recent quarterly year-over-year (YOY) percentage revenue growth and most recent quarterly YOY earnings-per-share (EPS) growth. Both sales and earnings are critical factors in the success of a company. Therefore, ranking companies by only one growth metric makes a ranking susceptible to the accounting anomalies of that quarter (such as changes in tax law or restructuring costs) that may make one figure or the other unrepresentative of the business in general. Companies with quarterly EPS or revenue growth of more than 2,500% were excluded as outliers.

Fastest-Growing Oil Tanker Stocks
  Price ($) Market Cap ($B) EPS Growth (%) Revenue Growth (%)
International Seaways Inc. (INSW) 16.85 0.8 N/A (see company description) 67.0
SFL Corp. Ltd. (SFL) 9.81 1.4 73.3 32.3
Nordic American Tankers Ltd. (NAT) 1.94 0.4 N/A (see company description) 25.5

Source: YCharts

  • International Seaways Inc.: International Seaways is a tanker company that provides energy transportation services for crude oil and petroleum products. Through joint ventures, the company also holds ownership interests in floating storage and offloading service vessels. During the last quarter of fiscal year 2021, the company completed its stock-to-stock merger with Diamond S Shipping Inc., creating one of the biggest U.S.-listed diversified tanker companies and significantly increasing International Seaways' scale in the crude and clean product markets. The company reported negative EPS for that quarter, which is why an EPS growth rate could not be calculated for the above table.
  • SFL Corp. Ltd.: SFL is a Bermuda-based company that owns and operates a fleet of crude oil tankers, bulk and ore vessels, dry bulk carriers, container ships, and jack up oil rigs. In late 2021, the company announced that it has agreed to acquire four modern oil tankers for an aggregate purchase price of $160 million from affiliates of Frontline Ltd. (FRO). The acquisition includes long-term time charters to a subsidiary of Trafigura, a commodity trading and logistics company.
  • Nordic American Tankers Ltd.: Nordic American Tankers is a Bermuda-based international tanker company with major corporate offices in Sandefjord, Norway. It owns and charters oil tankers focused primarily on the sport oil market. The company reported negative EPS for that quarter, which is why an EPS growth rate could not be calculated for the above table.

Oil Tanker Stocks with the Most Momentum

These are the oil tanker stocks that had the highest total return over the last 12 months.

Oil Tanker Stocks with the Most Momentum
  Price ($) Market Cap ($B) 12-Month Trailing Total Return (%)
SFL Corp. Ltd. (SFL) 9.81 1.4 27.8
Euronav NV (EURN) 10.84 2.2 15.9
Frontline Ltd. (FRO) 8.61 1.8 10.5
Russell 1000 N/A N/A 13.1
Energy Select Sector SPDR ETF (XLE) N/A N/A 56.4

Source: YCharts

  • SFL Corp. Ltd.: See above for company description.
  • Euronav NV: Belgium-based Euronav NV owns, operates and manages tankers for the transport of crude oil. In its Q4 FY 2021 report on Feb. 3, EURN said that cargo volumes remained below 2019 levels for most of the past year. The company said that the outlook for cargo volumes for 2022 is positive due to the return of Asia crude import demand.
  • Frontline Ltd.: Frontline Ltd is a Bermuda-based international shipping company that owns and operates oil and product tankers. It is also involved in the charter, purchase, and sale of vessels. On Feb. 17, the company announced that it had taken several steps to strengthen its financial position, including extending the terms of its unsecured revolving credit facility worth up to $275 million. As a result, the company will have no loan maturities until 2023.

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Article Sources
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  1. YCharts. “Financial Data.”

  2. Teekay Group. "Blog: Teekay Group Corporate Structure."

  3. Teekay Tankers. "Recap: Teekay Group Fourth Quarter 2021 Earnings Results."

  4. International Seaways, Inc. "International Seaways Reports Fourth Quarter and Full Year 2021 Results."

  5. SFL. “SFL — Acquisition of Four LR2 Product Tankers in Combination with Long Term Charters.”

  6. Euronav NV. "Euronav Announces Fourth Quarter 2021 Results."

  7. Frontline Ltd. "Press Releases: FRO – Fourth Quarter and Full Year 2021 Results."

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