Teekay Tankers Ltd. (TNK) Stock Price Up 5%
Teekay Tankers Ltd. (NYSE:TNK) shares rose 5% on Wednesday . The stock traded as high as $2.95 and last traded at $2.93, with a volume of 1,179,114 shares. The stock had previously closed at $2.79.
TNK has been the topic of several research reports. Clarkson Capital reaffirmed 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 started coverage on Teekay Tankers in a research report on Wednesday, May 4th. They issued a “buy” rating and a $6.00 target price on the stock. Vetr lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price objective 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 lowered 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 issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.41.
The stock has a market capitalization of $457.66 million and a P/E ratio of 2.34. The company has a 50 day moving average price of $3.06 and a 200 day moving average price of $3.68.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, May 19th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.08. The firm earned $165 million during the quarter, compared to the consensus estimate of $150.94 million. Teekay Tankers’s quarterly revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. Analysts expect that Teekay Tankers Ltd. will post $0.98 earnings per share for the current fiscal year.
Other hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its stake 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 worth $1,212,000 after buying an additional 3,121 shares during the period. WBI Investments Inc. purchased a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $5,096,000. 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 period. Finally, 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 period.
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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