Teekay Tankers Ltd. (TNK) Stake Increased by Rhumbline Advisers
Rhumbline Advisers raised its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,315 shares of the shipping company’s stock after buying an additional 9,437 shares during the period. Rhumbline Advisers owned about 0.08% of Teekay Tankers worth $264,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Securities LLC increased its holdings in shares of Teekay Tankers by 243.5% during the first quarter. Two Sigma Securities LLC now owns 51,750 shares of the shipping company’s stock worth $106,000 after buying an additional 36,683 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Teekay Tankers in the first quarter valued at approximately $113,000. American International Group Inc. increased its holdings in shares of Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock valued at $147,000 after purchasing an additional 4,720 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Teekay Tankers by 2,453.3% in the first quarter. JPMorgan Chase & Co. now owns 79,636 shares of the shipping company’s stock valued at $163,000 after purchasing an additional 76,517 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Teekay Tankers by 7.8% in the second quarter. Creative Planning now owns 98,857 shares of the shipping company’s stock valued at $186,000 after purchasing an additional 7,173 shares in the last quarter. 39.00% of the stock is owned by institutional investors.
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Shares of Teekay Tankers Ltd. (NYSE TNK) opened at 1.63 on Friday. The company has a 50 day moving average of $1.54 and a 200-day moving average of $1.77. Teekay Tankers Ltd. has a one year low of $1.37 and a one year high of $2.78. The firm’s market cap is $292.09 million.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $89.40 million during the quarter, compared to the consensus estimate of $80.68 million. Teekay Tankers had a negative net margin of 7.38% and a positive return on equity of 0.39%. The firm’s revenue was down 36.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, analysts expect that Teekay Tankers Ltd. will post ($0.02) EPS for the current year.
TNK has been the subject of a number of research reports. Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a report on Thursday, August 3rd. TheStreet lowered shares of Teekay Tankers from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. BidaskClub raised shares of Teekay Tankers from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Teekay Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Five investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The company currently has a consensus rating of “Sell” and a consensus target price of $1.77.
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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