Teekay Tankers (TNK) Reaches New 1-Year Low at $1.09

Teekay Tankers Ltd. (NYSE:TNK) shares reached a new 52-week low on Tuesday . The company traded as low as $1.09 and last traded at $1.08, with a volume of 2268639 shares changing hands. The stock had previously closed at $1.15.

A number of research analysts recently issued reports on TNK shares. Seaport Global Securities set a $3.00 target price on shares of Teekay Tankers and gave the company a “buy” rating in a research note on Thursday, January 4th. Bank of America lowered their target price on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a research note on Friday, November 10th. ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Finally, Morgan Stanley lowered their target price on shares of Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $1.82.

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $295.02, a P/E ratio of -3.93 and a beta of 2.18.

A number of large investors have recently bought and sold shares of TNK. BlackRock Inc. grew its stake in Teekay Tankers by 69.1% in the 4th quarter. BlackRock Inc. now owns 9,629,288 shares of the shipping company’s stock valued at $13,482,000 after buying an additional 3,935,024 shares during the last quarter. Greywolf Capital Management LP acquired a new position in Teekay Tankers in the 4th quarter valued at $2,997,000. Huber Capital Management LLC grew its stake in Teekay Tankers by 13.0% in the 4th quarter. Huber Capital Management LLC now owns 16,259,924 shares of the shipping company’s stock valued at $22,764,000 after buying an additional 1,876,690 shares during the last quarter. Northern Trust Corp grew its stake in Teekay Tankers by 75.7% in the 2nd quarter. Northern Trust Corp now owns 3,096,347 shares of the shipping company’s stock valued at $5,821,000 after buying an additional 1,334,417 shares during the last quarter. Finally, First Eagle Investment Management LLC acquired a new position in Teekay Tankers in the 3rd quarter valued at $911,000. Institutional investors and hedge funds own 35.07% of the company’s stock.

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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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