Exclusive: After Today’s Huge Increase, Is Teekay Tankers Ltd.’s Near-Term Analysis Positive?

Exclusive: After Today's Huge Increase, Is Teekay Tankers Ltd.'s Near Term Analysis Positive?

The stock of Teekay Tankers Ltd. (NYSE:TNK) is a huge mover today! About 488,228 shares traded hands. Teekay Tankers Ltd. (NYSE:TNK) has declined 35.71% since March 1, 2016 and is downtrending. It has underperformed by 44.96% the S&P500.
The move comes after 5 months positive chart setup for the $403.30 million company. It was reported on Oct, 4 by Barchart.com. We have $4.06 PT which if reached, will make NYSE:TNK worth $225.85M more.

Analysts await Teekay Tankers Ltd. (NYSE:TNK) to report earnings on November, 3. They expect $0.08 EPS, down 73.33% or $0.22 from last year’s $0.3 per share. TNK’s profit will be $12.41M for 8.13 P/E if the $0.08 EPS becomes a reality. After $0.20 actual EPS reported by Teekay Tankers Ltd. for the previous quarter, Wall Street now forecasts -60.00% negative EPS growth.

Teekay Tankers Ltd. (NYSE:TNK) Ratings Coverage

Out of 9 analysts covering Teekay Tankers (NYSE:TNK), 4 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 44% are positive. Teekay Tankers has been the topic of 14 analyst reports since September 4, 2015 according to StockzIntelligence Inc. The stock of Teekay Tankers Ltd. (NYSE:TNK) earned “Buy” rating by Seaport Global on Wednesday, May 4. On Tuesday, January 12 the stock rating was downgraded by JP Morgan to “Underweight”. The rating was upgraded by UBS to “Buy” on Friday, September 4. Credit Agricole initiated Teekay Tankers Ltd. (NYSE:TNK) on Tuesday, December 8 with “Outperform” rating. UBS maintained it with “Buy” rating and $10.0 target price in Thursday, October 22 report. The firm earned “Neutral” rating on Tuesday, July 26 by UBS. Barclays Capital initiated it with “Overweight” rating and $10 target price in Monday, January 11 report. Deutsche Bank upgraded Teekay Tankers Ltd. (NYSE:TNK) on Friday, November 6 to “Buy” rating. JP Morgan upgraded it to “Neutral” rating and $5 target price in Thursday, April 7 report. The rating was downgraded by Bank of America to “Underperform” on Friday, May 20.

According to Zacks Investment Research, “Teekay Tankers Ltd. is a Marshall Islands corporation recently formed by Teekay Corporation to provide international marine transportation of crude oil. Teekay Tankers Ltd. owns a fleet of nine double-hull Aframax-class oil tankers, which an affiliate of Teekay Corporation manages under a mix of spot-market trading and short- or medium-term fixed-rate time-charter contracts. In addition, Teekay Corporation will offer to Teekay Tankers Ltd. within eighteen months of the initial public offering the opportunity to purchase up to four Suezmax-class oil tankers. Teekay Tankers Ltd. intends to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors.”

Insitutional Activity: The institutional sentiment increased to 1.17 in Q2 2016. Its up 0.08, from 1.09 in 2016Q1. The ratio increased, as 24 funds sold all Teekay Tankers Ltd. shares owned while 34 reduced positions. 17 funds bought stakes while 51 increased positions. They now own 67.96 million shares or 5.39% less from 71.83 million shares in 2016Q1.
Bridgeway Cap Management accumulated 874,810 shares or 0.04% of the stock. Jpmorgan Chase & has 328 shares for 0% of their US portfolio. Moreover, Geode Capital Ltd Liability Company has 0% invested in Teekay Tankers Ltd. (NYSE:TNK) for 128,960 shares. Weiss Multi last reported 179,200 shares in the company. New York State Common Retirement Fund accumulated 120,400 shares or 0% of the stock. Invesco Ltd holds 149,076 shares or 0% of its portfolio. Wcm Inv Mngmt Ca holds 2.59 million shares or 0.12% of its portfolio. Muhlenkamp And Company accumulated 0.06% or 49,075 shares. Putnam Fl Invest holds 0.03% or 79,000 shares in its portfolio. Schwab Charles Inv last reported 181,000 shares in the company. Glenmede Tru Na, a Pennsylvania-based fund reported 1,792 shares. Dimensional Fund L P accumulated 0.01% or 4.51M shares. American Int Grp Incorporated last reported 67,076 shares in the company. Voya Investment Mngmt Limited Company reported 50,019 shares or 0% of all its holdings. Bank & Trust Of Montreal Can holds 0% or 39,306 shares in its portfolio.

More news for Teekay Tankers Ltd. (NYSE:TNK) were recently published by: Seekingalpha.com, which released: “Teekay Tankers – Dead In The Water?” on September 19, 2016. Fool.com‘s article titled: “Downgrade Sinks Teekay Tankers Ltd.’s Stock Today” and published on January 12, 2016 is yet another important article.

TNK Company Profile

Teekay Tankers Ltd., incorporated on October 17, 2007, is an international well-known provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Firm has two divisions: conventional tanker and ship-to-ship transfer. The Company’s conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts. The Company’s ship-to-ship transfer segment consists of its lightering support services, including those provided to the Company’s conventional tanker segment as part of full service lightering activities and other related services. The Company’s activities are managed by Teekay Tankers Management Services Ltd., which provides the Company with commercial, technical, administrative and strategic services.

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