Teekay Tankers Ltd. (TNK) Stock Price Down 5.7%
Teekay Tankers Ltd. (NYSE:TNK)’s share price traded down 5.7% on Thursday . The stock traded as low as $2.81 and last traded at $2.82, with a volume of 1,077,150 shares changing hands. The stock had previously closed at $2.99.
A number of equities analysts have recently commented on the company. Seaport Global Securities assumed coverage on Teekay Tankers in a report on Wednesday, May 4th. They issued a “buy” rating and a $6.00 price target for the company. Bank of America Corp. lowered Teekay Tankers from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $3.00 to $3.57 in a report on Friday, May 20th. Vetr lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target for the company. in a report on Wednesday, June 8th. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Finally, Zacks Investment Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Teekay Tankers has a consensus rating of “Hold” and a consensus target price of $7.41.
The stock’s 50 day moving average is $3.33 and its 200-day moving average is $4.09. The firm has a market capitalization of $435.80 million and a P/E ratio of 2.23.
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 analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $165 million for the quarter, compared to the consensus estimate of $150.94 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s revenue was up 53.5% compared to the same quarter last year. On average, equities research analysts expect that Teekay Tankers Ltd. will post $1.18 EPS for the current fiscal year.
A number of large investors recently made changes to their positions in the stock. 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 in the last quarter. WBI Investments Inc. bought a new stake in shares of Teekay Tankers during the fourth quarter worth $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 in the last quarter. 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised 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 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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