Teekay Tankers Ltd. (TNK) Trading Down 2.8%
Teekay Tankers Ltd. (NYSE:TNK) fell 2.8% during trading on Friday . The stock traded as low as $3.12 and last traded at $3.14, with a volume of 503,168 shares trading hands. The stock had previously closed at $3.23.
Several brokerages have recently commented on TNK. 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. JPMorgan Chase & Co. raised Teekay Tankers from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $5.00 in a report on Thursday, April 7th. Seaport Global Securities began coverage on Teekay Tankers in a report on Wednesday, May 4th. They set a “buy” rating and a $6.00 target price for the company. Bank of America Corp. downgraded Teekay Tankers from a “neutral” rating to an “underperform” rating and upped their target price for the company 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.41.
The stock has a market cap of $488.90 million and a P/E ratio of 2.50. The firm has a 50-day moving average of $3.21 and a 200 day moving average of $3.85.
Teekay Tankers (NYSE:TNK) last announced 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 earned $165 million during 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 period in the previous year, the business posted $0.34 earnings per share. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post $1.04 earnings per share for the current year.
Other large investors recently made changes to their positions in the company. WCM Investment Management CA boosted 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 period. Dimensional Fund Advisors LP boosted 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 period. UBS Oconnor LLC boosted 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 period. Wells Fargo & Company MN boosted 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 period. Finally, WBI Investments Inc. bought a new stake in shares of 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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