Market Overview - All three major Wall Street indexes, the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, experienced their fourth consecutive week of losses, declining by 1.9%, 2.1%, and 2.1% respectively [1] - The declines were attributed to ongoing inflation concerns, expectations of sustained elevated interest rates, and rising Treasury yields that pressured growth stocks [2] Geopolitical and Economic Factors - Geopolitical tensions, particularly the escalating conflict in Iran, disrupted global energy supplies and led to a significant increase in oil prices, further intensifying inflation fears and market volatility [2] - Investor sentiment turned cautious due to uncertainties surrounding economic growth and the risks associated with prolonged conflicts [2] Sector Performance - Market volatility was heightened by sector-specific weaknesses, especially in technology and consumer discretionary stocks, where valuations faced scrutiny [3] - Companies providing cautious forward guidance contributed to increased investor anxiety, reinforcing a broader risk-off sentiment [3] Zacks Research Performance - Zacks Research reported that stocks like LiveOne, Inc. and Teekay Tankers Ltd. saw significant gains of 27.9% and 10.9% respectively following upgrades to Zacks Rank 2 (Buy) and 1 (Strong Buy) [4][5] - An equal-weight portfolio of Zacks Rank 1 stocks outperformed the equal-weight S&P 500 index by 7.7 percentage points year-to-date through March 3, 2026, with returns of +6.57% compared to the S&P 500's -1.14% [5] Focus List and Portfolio Performance - The Zacks Focus List portfolio, which includes stocks like Micron Technology and Intellia Therapeutics, returned +6.65% in 2026 (through February 28) compared to +0.68% for the S&P 500 index [12] - The Top 10 portfolio from Zacks produced a cumulative return of +2,761.6% since 2012, significantly outperforming the S&P 500 index's +564.8% [25]

Group 1 - Nordic American Tankers Limited (NAT) is experiencing gains in the energy sector this week [1] - The company specializes in operating Suezmax crude oil tankers and is based in Bermuda [2] - In Q4 2025, NAT reported a net profit of $11.7 million and an EBITDA of $34.7 million, with a 25% sequential increase in average time charter equivalent (TCE) to $35,000 per day per ship [3] - The company has booked nearly two-thirds of its spot days in Q1 2026 at approximately $55,000 per day, indicating a strong market for its ships [4] - NAT declared a quarterly dividend of $0.17 per share, marking its 114th consecutive quarterly dividend [4] - The ongoing situation in the Middle East has led to record high oil supertanker rates, benefiting NAT [5] Group 2 - The company has been included in a list of the best dividend stocks to buy, reflecting its strong dividend history [4]

Tuesday, March 3, 2026 Dear Shareholders and Investors, I am pleased to disclose that I, as the Founder, Chairman & CEO of NAT, today have bought 200,000 shares at $5.7016 per share, bringing my total holding to 5,500,000 shares. Simultaneously, my son, Alexander Hansson, Vice-Chair of NAT has bought 200,000 shares at $5.6959 per share, bringing his holding to 5,550,000 shares. Following this transaction, our family collectively owns 11,050,000 shares and has 5.2% of the total outstanding shares in NAT. As ...

Core Viewpoint - U.S. stock markets began 2026 positively, but volatility emerged in February due to concerns over the sustainability of artificial intelligence (AI) investments, leading to a decline in the technology sector [1] Group 1: Stock Performance - A selection of stocks has demonstrated price strength, particularly those on a recent bull run, indicating potential for continued momentum [2] - Okeanis Eco Tankers Corp. (ECO) stock price increased by 36.2% over the past four weeks, with an expected earnings growth rate of 15.4% for the current year and a 74% improvement in the Zacks Consensus Estimate for earnings over the last 30 days [7] - Seanergy Maritime Holdings Corp. (SHIP) stock price rose by 35.4% in the past four weeks, with an expected earnings growth of 46.1% for the current year and a 28.1% increase in the Zacks Consensus Estimate for earnings over the last 30 days [8] - Modine Manufacturing Co. (MOD) stock price surged by 30.3% over the past four weeks, with an expected earnings growth rate of 19% for the current year and a 4.1% improvement in the Zacks Consensus Estimate for earnings over the last seven days [10] - Suzano S.A. (SUZ) stock price rallied by 20.5% in the past four weeks, despite an expected earnings decline of 39.2% for the current year, with a 32.6% improvement in the Zacks Consensus Estimate for earnings over the last 60 days [11] - StoneX Group Inc. (SNEX) stock price advanced by 15.1% in the past four weeks, with an expected earnings growth of 34.1% for the current year and an 8.2% increase in the Zacks Consensus Estimate for earnings over the last 30 days [13] Group 2: Screening Parameters - Stocks selected for potential investment must show a percentage change in price greater than zero over the last four weeks, indicating upward movement [4] - Stocks must have a percentage change in price greater than 10% over the last 12 weeks to ensure sustained momentum [4] - Stocks must have a Zacks Rank of 1 (Strong Buy) and an average broker rating of 1, indicating strong future performance expectations [5] - Stocks must be trading at a minimum price of $5 and be within 85% of their 52-week high to ensure they are strong in terms of price [6]

Core Viewpoint - Two stocks in the energy sector are signaling potential warnings for momentum-focused investors as of March 2, 2026 [1] Group 1: Momentum Indicators - The Relative Strength Index (RSI) is a key momentum indicator that compares a stock's performance on up days versus down days, with a value above 70 indicating overbought conditions [2] - The latest list highlights major overbought stocks in the energy sector [2] Group 2: Company Analysis - Nordic American Tankers Ltd (NYSE:NAT) reported disappointing quarterly results on February 26, despite a stock price increase of approximately 37% over the past month, reaching a 52-week high of $5.78 [3] - The RSI for Nordic American Tankers is notably high at 93.8, indicating overbought conditions [3] - The stock closed at $5.73 after a 6.1% gain on the previous Friday, with a momentum score of 91.92 and a value score of 93.51 [3] Group 3: Additional Company - Tsakos Energy Navigation Ltd (NYSE:TEN) is also mentioned as part of the overbought players in the energy sector, although specific details on its performance are not provided in the text [3]

Financial Data and Key Metrics Changes - In Q4 2025, Frontline reported a profit of $228 million or $1.02 per share, with an adjusted profit of $230 million or $1.03 per share, marking an increase of $188 million compared to the previous quarter due to higher TCE earnings [5][6] - TCE earnings rose from $248 million in the previous quarter to $424.5 million in Q4 2025, driven by increased TCE rates [5][6] - The company has a strong liquidity position with $705 million in cash and cash equivalents, and no meaningful debt maturities until 2030 [6] Business Line Data and Key Metrics Changes - The TCE rates for the fleet in Q4 2025 were $74,200 per day for VLCCs, $53,800 for Supramax, and $33,500 for LR2/Aframax [3] - For Q1 2026, 92% of VLCC days are booked at $107,100 per day, 83% of Supramax days at $76,700, and 67% of LR2/Aframax days at $62,400 [3] Market Data and Key Metrics Changes - Oil demand is growing, particularly for non-sanctioned molecules, with significant year-on-year changes in trade patterns [12] - The geopolitical landscape, including U.S.-India trade and tensions involving Iran and Russia, is creating strong tailwinds for compliant oil transportation [12][14] - The global crude oil in transit remains elevated, with OPEC Middle East exports growing, contributing to increased demand for compliant tonnage [13][14] Company Strategy and Development Direction - Frontline is focused on maintaining a strong business model that can produce material shareholder returns, capitalizing on the current market dynamics [21] - The company is acquiring nine new Eco VLCCs while selling older vessels, indicating a strategy of fleet renewal and modernization [7][8] - The company intends to finance new acquisitions with cash and long-term debt, maintaining a leverage strategy to enhance shareholder value [7][55] Management's Comments on Operating Environment and Future Outlook - Management highlighted the current market as fundamentally tight, with extreme volatility expected due to the balance of oil demand and supply, particularly for compliant molecules [20][21] - The company anticipates a summer lull in demand but expects to sustain high rates in the near term [24][25] - There is a belief that the tanker market is entering a favorable period, with asset prices appreciating and a manageable future supply due to the aging fleet [20][21] Other Important Information - The average cash break-even rates for the next 12 months are estimated at approximately $25,000 per day for VLCCs, $23,700 for Supramax, and $23,800 for LR2 tankers [9][10] - The company has entered into one-year time charter agreements to secure revenue streams while remaining flexible in the spot market [11][49] Q&A Session Summary Question: What factors could lead to a plateau in current rates? - Management indicated that seasonality and potential changes in Chinese inventory levels could create volatility, but it is difficult to predict the timing of such events [23][24][27] Question: Why hasn't anyone tried to corner the VLCC market before? - Management explained that the current market is fundamentally tight, and small changes in supply can lead to significant price movements, making it a risky endeavor [30][32] Question: Is the TC market more active now? - Management noted that the market has evolved, with more actors using indices to price freight, leading to less physical liquidity and increased volatility [38][41] Question: What is the strategy regarding spot versus time charter? - The company aims to provide spot returns while maintaining a flexible approach to time charters, with a target of up to 30% coverage under certain conditions [48][49] Question: What would happen if Russian crude oil sanctions were lifted? - Management believes that while some capacity could return to the compliant fleet, many vessels would be disqualified due to age, limiting the impact on the market [51][52]

Core Insights - International Seaways, Inc. reported strong financial results for Q4 and full year 2025, with net income of $128 million for Q4 and $309 million for the full year, reflecting significant growth compared to the previous year [5][7]. Annual and Quarterly Results - Q4 2025 net income was $128 million, or $2.56 per diluted share, compared to $36 million, or $0.72 per diluted share in Q4 2024 [5][7]. - Full year 2025 net income was $309 million, or $6.23 per diluted share, down from $416 million in 2024 [5][7]. - Adjusted EBITDA for Q4 2025 was $175 million, compared to $95 million in Q4 2024, and for the full year, it was $475 million, down from $583 million in 2024 [9][41]. Fleet Optimization Program - The company sold 10 vessels in 2025, averaging 18 years old, for net proceeds of approximately $131 million [5][15]. - In 2026, the company has sold or agreed to sell seven vessels, averaging 17 years old, for proceeds of approximately $216 million [5][16]. - The company took delivery of a new VLCC, Seaways Gibbs Hill, for $119 million in Q4 2025 [5][14]. Healthy Balance Sheet - Total liquidity was $724 million as of December 31, 2025, including $167 million in cash and $557 million in undrawn revolving credit capacity [5]. - The net loan-to-value ratio remained low at approximately 13% [5][19]. - The company declared a combined dividend of $2.15 per share, the largest quarterly dividend in its history, to be paid in March 2026 [5][23]. Market Dynamics - Strong market fundamentals are driving tanker earnings, with healthy oil demand growth exceeding one million barrels per day [6]. - The orderbook represents over 15% of the existing fleet, with nearly half expected to reach 20 years of age by the time of delivery [6]. - Increased enforcement actions targeting sanctioned tonnage are expected to constrain effective fleet growth in compliant trades [6]. Financial Strategy - The company issued $250 million in senior unsecured bonds to repay higher-cost debt and unencumber six additional vessels [6][19]. - The company focused on fleet renewal without stretching the balance sheet, funding investments through sales of older vessels and attractively priced financing [6][19].

Core Viewpoint - The company is experiencing positive momentum with a solid market for its ships and has secured a long-term contract, indicating a favorable outlook for the future [1][3]. Financial Performance - The fourth quarter of 2025 yielded a dividend of $0.17 per share, marking the 114th consecutive quarterly cash dividend, payable on March 24, 2026 [3]. - The average time charter equivalent (TCE) for the fleet was $35,000 per day, reflecting a 25% increase from the previous quarter, with operating costs at approximately $9,000 per day per ship [3]. - The net result for Q4 2025 was $11.7 million, and EBITDA reached $34.7 million, with a cash position exceeding $100 million at the time of the report [3]. Market Conditions - Nearly two-thirds of spot days in Q1 2026 have been booked at around $55,000 per day, with bookings extending well into Q2 2026, indicating a robust market environment [3]. - The scarcity of compliant ships has become apparent, intensifying pressure on the shadow fleet, which bodes well for the company's long-term outlook [3]. Fleet Management - The fleet consists of 20 vessels as of December 31, 2025, with plans for growth in the future [3]. - The company acquired two suezmax tankers built in 2016 during the first half of 2025 and has agreements for two new vessels to be delivered in 2028 [3]. - In 2025, the company sold four older vessels built between 2003 and 2005, capitalizing on rising asset prices [3]. Environmental Initiatives - The company is focused on reducing emissions through careful voyage planning and speed adjustments of its ships [3].

Core Insights - Okeanis Eco Tankers (ECO) is considered an interesting investment opportunity due to its potential for significant returns during economic recovery and growth [1]. Company Analysis - The stock of Okeanis Eco Tankers has shown a total increase since the initial investment thesis was outlined [1]. - The company operates in cyclical industries, which are expected to perform well during periods of economic expansion [1]. Investment Strategy - The investment strategy focuses on maintaining a diversified portfolio that includes bonds, commodities, and forex, balancing risk while targeting cyclical sectors for higher returns [1].

Company Overview - DHT Holdings, Inc. is an independent crude oil tanker company operating internationally with a fleet focused on the VLCC segment [2] - The company has integrated management companies located in Monaco, Norway, Singapore, and India, emphasizing quality operations and customer service [2] - DHT maintains a prudent capital structure to ensure stability through business cycles, employing a mix of market exposure and fixed income contracts [2] Recent Developments - DHT has entered into a one-year time charter agreement for the VLCC DHT Redwood at a rate of $105,000 per day, set to commence in March 2026 [1] - The charter agreement is concluded with a global energy company, indicating strong demand for DHT's services [1]