Teekay Tankers Ltd. (NYSE:TNK) dropped 2.2% on Thursday . The company traded as low as $3.12 and last traded at $3.12, with a volume of 731,707 shares. The stock had previously closed at $3.19.

TNK has been the subject of a number of research analyst reports. Clarkson Capital restated a “buy” rating and issued a $12.00 target price on shares of Teekay Tankers in a research report on Thursday, May 19th. Seaport Global Securities initiated coverage on Teekay Tankers in a research report on Wednesday, May 4th. They issued a “buy” rating and a $6.00 target price for the company. Vetr downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 target price for the company. in a research report on Wednesday, June 8th. Zacks Investment Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Stifel Nicolaus downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st. One research 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. Teekay Tankers currently has a consensus rating of “Hold” and an average price target of $7.41.

The company has a market capitalization of $485.78 million and a P/E ratio of 2.49. The company’s 50 day moving average price is $3.25 and its 200 day moving average price is $3.96.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, May 19th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $165 million for the quarter, compared to analyst estimates of $150.94 million. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. Analysts forecast that Teekay Tankers Ltd. will post $1.13 earnings per share for the current fiscal year.

Several large investors recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Teekay Tankers by 100.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,756,624 shares of the company’s stock worth $18,966,000 after buying an additional 1,384,674 shares during the last quarter. WBI Investments Inc. bought a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $5,096,000. UBS Oconnor LLC raised its stake in shares of Teekay Tankers by 20.0% in the fourth quarter. UBS Oconnor LLC now owns 2,692,270 shares of the company’s stock worth $18,523,000 after buying an additional 449,292 shares during the last quarter. WCM Investment Management CA raised its stake in shares of Teekay Tankers by 29.3% in the fourth quarter. WCM Investment Management CA now owns 3,405,938 shares of the company’s stock worth $23,433,000 after buying an additional 771,691 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Teekay Tankers by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,323,732 shares of the company’s stock worth $9,107,000 after buying an additional 294,393 shares during 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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