Teekay Tankers (TNK) Reaches New 12-Month High and Low at $0.96

Teekay Tankers Ltd. (NYSE:TNK) reached a new 52-week high and low during mid-day trading on Monday . The company traded as low as $0.96 and last traded at $0.98, with a volume of 117861 shares changing hands. The stock had previously closed at $1.05.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating for the company in a research report on Monday, February 12th. DNB Markets upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. UBS upgraded shares of Teekay Tankers from a “sell” rating to a “neutral” rating and reduced their price target for the company from $1.26 to $1.00 in a research report on Monday, February 26th. ValuEngine upgraded shares of Teekay Tankers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Teekay Tankers currently has an average rating of “Hold” and a consensus price target of $1.68.

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.74 and a quick ratio of 0.75. The stock has a market capitalization of $281.98 million, a PE ratio of -8.73 and a beta of 2.04.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, May 17th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). Teekay Tankers had a negative return on equity of 5.24% and a negative net margin of 17.16%. The firm had revenue of $88.47 million during the quarter, compared to the consensus estimate of $83.84 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. research analysts forecast that Teekay Tankers Ltd. will post -0.25 EPS for the current year.

Several institutional investors have recently modified their holdings of the stock. Huber Capital Management LLC raised its position in shares of Teekay Tankers by 13.0% during the 4th quarter. Huber Capital Management LLC now owns 16,259,924 shares of the shipping company’s stock worth $22,764,000 after purchasing an additional 1,876,690 shares during the last quarter. BlackRock Inc. raised its position in shares of Teekay Tankers by 0.9% during the 1st quarter. BlackRock Inc. now owns 9,714,598 shares of the shipping company’s stock worth $11,561,000 after purchasing an additional 85,310 shares during the last quarter. Greywolf Capital Management LP acquired a new position in shares of Teekay Tankers during the 4th quarter worth approximately $2,997,000. Guggenheim Capital LLC raised its position in shares of Teekay Tankers by 30.6% during the 1st quarter. Guggenheim Capital LLC now owns 1,837,326 shares of the shipping company’s stock worth $2,186,000 after purchasing an additional 430,659 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Teekay Tankers by 62.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,142,910 shares of the shipping company’s stock worth $1,600,000 after purchasing an additional 439,300 shares during the last quarter. Hedge funds and other institutional investors own 30.73% of the company’s stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd. engages in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. The company also provides ship-to-ship transfer services, including lightering and lightering support, consultancy, and LNG terminal management services.

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