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.
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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