Teekay Tankers (TNK) Shares Down 2.8%

Shares of Teekay Tankers Ltd. (NYSE:TNK) traded down 2.8% on Wednesday . The company traded as low as $1.08 and last traded at $1.11. 435,973 shares traded hands during trading, a decline of 69% from the average session volume of 1,384,870 shares. The stock had previously closed at $1.08.

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating for the company in a report on Monday, February 12th. ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Seaport Global Securities set a $3.00 target price on shares of Teekay Tankers and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Bank of America dropped their target price on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $1.82.

The company has a market capitalization of $206.08, a price-to-earnings ratio of -3.93 and a beta of 2.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67.

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its stake in Teekay Tankers by 21.8% in the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock worth $100,000 after buying an additional 9,526 shares in the last quarter. Voya Investment Management LLC raised its stake in Teekay Tankers by 26.3% in the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock worth $119,000 after buying an additional 13,167 shares in the last quarter. Nationwide Fund Advisors raised its stake in Teekay Tankers by 10.4% in the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock worth $150,000 after buying an additional 7,500 shares in the last quarter. Mangrove Partners bought a new position in Teekay Tankers in the fourth quarter worth about $133,000. Finally, MetLife Investment Advisors LLC bought a new position in Teekay Tankers in the fourth quarter worth about $141,000. 35.07% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Teekay Tankers (TNK) Shares Down 2.8%” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/21/teekay-tankers-tnk-shares-down-2-8.html.

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.

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply