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

Several research analysts have commented on TNK shares. Clarkson Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Teekay Tankers in a report on Thursday, May 19th. Seaport Global Securities started coverage on Teekay Tankers in a report on Wednesday, May 4th. They set a “buy” rating and a $6.00 target price on the stock. Vetr downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 target price on the stock. in a report on Wednesday, June 8th. Zacks Investment Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 25th. Finally, Stifel Nicolaus downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.41.

The stock’s 50-day moving average price is $3.24 and its 200 day moving average price is $3.93. The firm has a market cap of $481.09 million and a P/E ratio of 2.46.

Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, May 19th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.08. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company earned $165 million during the quarter, compared to analyst estimates of $150.94 million. The firm’s revenue was up 53.5% compared to the same quarter last year. On average, analysts predict that Teekay Tankers Ltd. will post $1.13 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. 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 worth $23,433,000 after buying an additional 771,691 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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 in the last quarter. 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 worth $18,523,000 after buying an additional 449,292 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 worth $9,107,000 after buying an additional 294,393 shares in the last quarter. Finally, WBI Investments Inc. purchased a new position in Teekay Tankers during the fourth quarter worth approximately $5,096,000.

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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