Teekay Tankers Ltd. $TNK Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its stake in Teekay Tankers Ltd. (NYSE:TNK) by 25.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 92,257 shares of the shipping company’s stock after selling 31,541 shares during the period. Denali Advisors LLC’s holdings in Teekay Tankers were worth $4,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Teekay Tankers by 107.2% during the first quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company’s stock valued at $3,200,000 after acquiring an additional 43,258 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Teekay Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock valued at $546,000 after purchasing an additional 610 shares during the period. Millennium Management LLC grew its position in Teekay Tankers by 24.9% in the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after purchasing an additional 50,815 shares during the last quarter. CWM LLC grew its position in Teekay Tankers by 124.2% in the 2nd quarter. CWM LLC now owns 7,803 shares of the shipping company’s stock worth $326,000 after purchasing an additional 4,323 shares during the last quarter. Finally, Ethic Inc. increased its stake in shares of Teekay Tankers by 39.7% in the second quarter. Ethic Inc. now owns 19,985 shares of the shipping company’s stock valued at $846,000 after purchasing an additional 5,678 shares during the period. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Stock Performance

Shares of TNK stock opened at $70.41 on Monday. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $70.75. The business’s fifty day moving average is $58.97 and its 200-day moving average is $55.21. The stock has a market cap of $2.43 billion, a PE ratio of 7.82 and a beta of -0.27.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. Wall Street Zen lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Zacks Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Jefferies Financial Group lifted their price objective on shares of Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Evercore upped their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, Teekay Tankers presently has an average rating of “Buy” and a consensus price target of $65.00.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.