Other research analysts also recently issued research reports about the stock. DNB Markets downgraded shares of Teekay Tankers from a buy rating to a hold rating in a research note on Friday, November 30th. ValuEngine raised shares of Teekay Tankers from a hold rating to a buy rating in a research note on Tuesday, November 27th. Zacks Investment Research downgraded shares of Teekay Tankers from a buy rating to a hold rating in a research note on Thursday, December 20th. Finally, Jefferies Financial Group assumed coverage on shares of Teekay Tankers in a research note on Monday, October 1st. They issued a hold rating and a $1.00 price target on the stock. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Teekay Tankers currently has a consensus rating of Hold and an average price target of $1.11.
Shares of TNK opened at $1.04 on Thursday. Teekay Tankers has a twelve month low of $0.87 and a twelve month high of $1.43. The firm has a market capitalization of $290.04 million, a PE ratio of -9.45 and a beta of 1.39. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.05.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, November 15th. The shipping company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company had revenue of $92.87 million for the quarter, compared to the consensus estimate of $82.95 million. Teekay Tankers had a negative net margin of 10.61% and a negative return on equity of 7.71%. On average, equities research analysts predict that Teekay Tankers will post -0.25 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Panagora Asset Management Inc. purchased a new position in Teekay Tankers during the 3rd quarter valued at about $134,000. JPMorgan Chase & Co. increased its position in Teekay Tankers by 20.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 556,705 shares of the shipping company’s stock valued at $550,000 after purchasing an additional 95,879 shares during the period. Millennium Management LLC purchased a new position in Teekay Tankers during the 2nd quarter valued at about $583,000. Renaissance Technologies LLC increased its position in Teekay Tankers by 51.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,203,510 shares of the shipping company’s stock valued at $2,578,000 after purchasing an additional 750,400 shares during the period. Finally, BlackRock Inc. increased its position in Teekay Tankers by 73.5% during the 3rd quarter. BlackRock Inc. now owns 16,771,399 shares of the shipping company’s stock valued at $16,567,000 after purchasing an additional 7,102,870 shares during the period. 26.08% of the stock is currently owned by institutional investors and hedge funds.
About Teekay Tankers
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Conventional Tanker and Ship-to-Ship (STS) Transfer segment. The Conventional Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts.
See Also: Initial Public Offering (IPO)
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