Bank of New York Mellon Corp Raises Stake in Teekay Tankers Ltd. (TNK)
Bank of New York Mellon Corp raised its position in Teekay Tankers Ltd. (NYSE:TNK) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 856,123 shares of the company’s stock after buying an additional 27,742 shares during the period. Bank of New York Mellon Corp owned about 0.55% of Teekay Tankers worth $2,551,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of Teekay Tankers during the second quarter valued at $117,000. Mount Lucas Management LP boosted its stake in Teekay Tankers by 13.3% in the first quarter. Mount Lucas Management LP now owns 151,574 shares of the company’s stock valued at $556,000 after buying an additional 17,740 shares during the last quarter. James Investment Research Inc. bought a new stake in Teekay Tankers during the second quarter valued at about $543,000. Jacobs Levy Equity Management Inc. bought a new stake in Teekay Tankers during the first quarter valued at about $762,000. Finally, HBK Investments L P boosted its stake in Teekay Tankers by 1,509.0% in the first quarter. HBK Investments L P now owns 224,100 shares of the company’s stock valued at $822,000 after buying an additional 210,172 shares during the last quarter. 52.62% of the stock is currently owned by institutional investors.
Shares of Teekay Tankers Ltd. (NYSE:TNK) traded down 0.40% during mid-day trading on Monday, hitting $2.52. 664,035 shares of the stock were exchanged. The stock has a market cap of $393.88 million, a price-to-earnings ratio of 2.47 and a beta of 2.29. The company has a 50-day moving average price of $2.64 and a 200-day moving average price of $3.24. Teekay Tankers Ltd. has a 12 month low of $2.42 and a 12 month high of $8.53.
Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. The firm had revenue of $139.62 million for the quarter, compared to analyst estimates of $131.06 million. During the same quarter last year, the firm posted $0.35 EPS. The business’s revenue was up 25.4% on a year-over-year basis. Equities analysts expect that Teekay Tankers Ltd. will post $0.81 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Teekay Tankers from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 11th. Morgan Stanley set a $3.60 price objective on shares of Teekay Tankers and gave the company a “hold” rating in a research report on Friday, August 5th. Vetr cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price objective on the stock. in a research report on Wednesday, June 8th. Clarkson Capital cut shares of Teekay Tankers from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $3.00 in a research report on Monday. Finally, Danske reiterated a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Teekay Tankers has a consensus rating of “Hold” and an average target price of $6.25.
Teekay Tankers Company Profile
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 has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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