Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group boosted their target price on shares of Teekay Tankers from $25.00 to $28.00 and gave the company a buy rating in a research note on Thursday. Clarkson Capital reiterated a buy rating on shares of Teekay Tankers in a research note on Tuesday, June 14th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $24.00.
Teekay Tankers Stock Performance
Shares of Teekay Tankers stock opened at $22.79 on Friday. The firm’s 50 day moving average price is $19.34 and its 200-day moving average price is $16.04. The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Teekay Tankers has a 52-week low of $9.89 and a 52-week high of $23.52.
Hedge Funds Weigh In On Teekay Tankers
A number of large investors have recently added to or reduced their stakes in TNK. State Street Corp raised its position in Teekay Tankers by 41.3% during the first quarter. State Street Corp now owns 436,178 shares of the shipping company’s stock worth $6,037,000 after acquiring an additional 127,480 shares during the period. Charles Schwab Investment Management Inc. raised its position in Teekay Tankers by 12.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 378,620 shares of the shipping company’s stock worth $5,241,000 after acquiring an additional 42,928 shares during the period. JPMorgan Chase & Co. raised its position in Teekay Tankers by 18.4% during the first quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company’s stock worth $3,590,000 after acquiring an additional 40,309 shares during the period. SG Americas Securities LLC acquired a new position in Teekay Tankers during the second quarter worth $528,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Teekay Tankers during the first quarter worth $346,000. 28.74% of the stock is currently owned by institutional investors and hedge funds.
About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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