Teekay Tankers Ltd. (TNK) – What Are Investment Firms Saying About This Stock?

Teekay Tankers Ltd. (NYSE:TNK) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $95.50.

TNK has been the topic of a number of recent research reports. Evercore restated an “outperform” rating and set a $116.00 price target on shares of Teekay Tankers in a research report on Tuesday, October 27th. Wall Street Zen cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th.

Teekay Tankers Stock Down 0.1%

Shares of TNK opened at $85.66 on Monday. Teekay Tankers has a 52-week low of $50.94 and a 52-week high of $110.65. The stock has a market cap of $2.96 billion, a PE ratio of 5.05 and a beta of -0.05. The firm’s fifty day moving average is $97.21 and its two-hundred day moving average is $79.75.

Insider Transactions at Teekay Tankers

In other news, Director Heidi Locke Simon sold 741 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total value of $66,690.00. Following the completion of the sale, the director directly owned 4,000 shares in the company, valued at $360,000. This represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Schellenberg sold 7,344 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $100.00, for a total value of $734,400.00. Following the completion of the sale, the director directly owned 7,344 shares of the company’s stock, valued at approximately $734,400. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,561 shares of company stock worth $1,380,350 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Teekay Tankers

Large investors have recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC acquired a new position in Teekay Tankers in the 1st quarter valued at about $18,330,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Teekay Tankers by 367.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock valued at $15,947,000 after buying an additional 170,940 shares during the period. NEOS Investment Management LLC increased its holdings in shares of Teekay Tankers by 41.4% during the 2nd quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock worth $16,584,000 after buying an additional 74,894 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Teekay Tankers by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock worth $139,579,000 after buying an additional 68,437 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Teekay Tankers by 155.7% during the 1st quarter. Sei Investments Co. now owns 106,160 shares of the shipping company’s stock worth $7,784,000 after buying an additional 64,645 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers.

The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.

Teekay Tankers was established in 2007 and was formerly part of Teekay Corporation.