Shares of Teekay Tankers Ltd. (NYSE:TNK) fell 5.7% during trading on Thursday . The stock traded as low as $2.81 and last traded at $2.82, with a volume of 1,077,150 shares. The stock had previously closed at $2.99.

Several research firms have commented on TNK. Clarkson Capital reissued a “buy” rating and issued a $12.00 target price on shares of Teekay Tankers in a research report on Thursday, May 19th. JPMorgan Chase & Co. raised shares of Teekay Tankers from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Thursday, April 7th. Seaport Global Securities initiated coverage on shares of Teekay Tankers in a report on Wednesday, May 4th. They set a “buy” rating and a $6.00 price objective for the company. Bank of America Corp. downgraded shares of Teekay Tankers from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $3.00 to $3.57 in a report on Friday, May 20th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Teekay Tankers in a report on Tuesday, April 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.41.

The firm has a market capitalization of $456.10 million and a P/E ratio of 2.33. The stock’s 50-day moving average price is $3.28 and its 200 day moving average price is $4.05.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, May 19th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.08. During the same quarter in the previous year, the business earned $0.34 EPS. The firm had revenue of $165 million for the quarter, compared to the consensus estimate of $150.94 million. The firm’s revenue was up 53.5% compared to the same quarter last year. On average, equities analysts forecast that Teekay Tankers Ltd. will post $1.17 earnings per share for the current year.

Other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in Teekay Tankers by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 176,185 shares of the company’s stock valued at $1,212,000 after buying an additional 3,121 shares in the last quarter. Oceanic Investment Management LTD boosted its position in Teekay Tankers by 176.8% in the fourth quarter. Oceanic Investment Management LTD now owns 3,808,200 shares of the company’s stock valued at $26,200,000 after buying an additional 2,432,304 shares in the last quarter. Wells Fargo & Company MN boosted its position in Teekay Tankers by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,323,732 shares of the company’s stock valued at $9,107,000 after buying an additional 294,393 shares in the last quarter. WCM Investment Management CA boosted its position in Teekay Tankers by 29.3% in the fourth quarter. WCM Investment Management CA now owns 3,405,938 shares of the company’s stock valued at $23,433,000 after buying an additional 771,691 shares in the last quarter. Finally, UBS Oconnor LLC boosted its position in Teekay Tankers by 20.0% in the fourth quarter. UBS Oconnor LLC now owns 2,692,270 shares of the company’s stock valued at $18,523,000 after buying an additional 449,292 shares in the last quarter.

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.

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