Shares of Teekay Tankers Ltd. (NYSE:TNK) were down 2.8% on Friday . The company 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 analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Teekay Tankers from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $5.00 in a report on Thursday, April 7th. Deutsche Bank AG restated a “hold” rating on shares of Teekay Tankers in a report on Tuesday, April 12th. Zacks Investment Research cut Teekay Tankers from a “hold” rating to a “strong sell” rating in a report on Thursday, April 21st. Seaport Global Securities assumed 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. Finally, Clarkson Capital restated a “buy” rating and set a $12.00 target price on shares of Teekay Tankers in a report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.41.

The company has a market cap of $488.90 million and a PE ratio of 2.50. The firm’s 50-day moving average is $3.20 and its 200-day moving average is $3.82.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, May 19th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business earned $165 million during the quarter, compared to analysts’ expectations of $150.94 million. Teekay Tankers’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. On average, equities research analysts expect that Teekay Tankers Ltd. will post $1.02 EPS for the current fiscal year.

A number of institutional investors recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in shares of 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. Wells Fargo & Company MN boosted its position 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 valued at $9,107,000 after buying an additional 294,393 shares in the last quarter. UBS Oconnor LLC boosted its position 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 valued at $18,523,000 after buying an additional 449,292 shares in the last quarter. WBI Investments Inc. bought a new position in shares of Teekay Tankers during the fourth quarter valued at $5,096,000. Finally, WCM Investment Management CA boosted its position 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 valued at $23,433,000 after buying an additional 771,691 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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