Teekay Tankers (TNK) Shares Gap Up to $1.11

Teekay Tankers Ltd. (NYSE:TNK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.16, but opened at $1.11. Teekay Tankers shares last traded at $1.11, with a volume of 17128 shares traded.

A number of equities analysts have recently issued reports on TNK shares. Jefferies Financial Group started coverage on shares of Teekay Tankers in a report on Monday, October 1st. They issued a “hold” rating and a $1.00 price target for the company. Wells Fargo & Co reiterated a “buy” rating on shares of Teekay Tankers in a report on Thursday, August 23rd. Finally, ValuEngine downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.52.

The company has a market capitalization of $276.61 million, a PE ratio of -10.18 and a beta of 1.87. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.70 and a current ratio of 0.70.



Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Thursday, August 2nd. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). Teekay Tankers had a negative net margin of 13.20% and a negative return on equity of 7.43%. The company had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $77.53 million. During the same period last year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts predict that Teekay Tankers Ltd. will post -0.35 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNK. BlackRock Inc. raised its holdings in Teekay Tankers by 0.9% in the first quarter. BlackRock Inc. now owns 9,714,598 shares of the shipping company’s stock valued at $11,561,000 after buying an additional 85,310 shares during the period. Renaissance Technologies LLC raised its holdings in Teekay Tankers by 51.6% in the second quarter. Renaissance Technologies LLC now owns 2,203,510 shares of the shipping company’s stock valued at $2,578,000 after buying an additional 750,400 shares during the period. Guggenheim Capital LLC raised its holdings in Teekay Tankers by 30.6% in the first quarter. Guggenheim Capital LLC now owns 1,837,326 shares of the shipping company’s stock valued at $2,186,000 after buying an additional 430,659 shares during the period. Bienville Capital Management LLC purchased a new position in Teekay Tankers in the second quarter valued at approximately $1,026,000. Finally, Millennium Management LLC purchased a new position in Teekay Tankers in the second quarter valued at approximately $583,000. 25.65% of the stock is currently owned by institutional investors and hedge funds.

About Teekay Tankers (NYSE:TNK)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.

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