The stock of Teekay Tankers Ltd. (NYSE:TNK) is a huge mover today! About 513,424 shares traded hands. Teekay Tankers Ltd. (NYSE:TNK) has declined 33.33% since April 11, 2016 and is downtrending. It has underperformed by 39.48% the S&P500.
The move comes after 5 months positive chart setup for the $371.52M company. It was reported on Nov, 11 by Barchart.com. We have $6.06 PT which if reached, will make NYSE:TNK worth $587.00M more.
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 company was upgraded on Friday, September 4 by UBS. The stock of Teekay Tankers Ltd. (NYSE:TNK) earned “Hold” rating by Zacks on Tuesday, September 22. The firm earned “Hold” rating on Wednesday, March 2 by Danske Bank. The stock of Teekay Tankers Ltd. (NYSE:TNK) has “Overweight” rating given on Monday, January 11 by Barclays Capital. As per Friday, November 6, the company rating was upgraded by Deutsche Bank. The firm has “Underweight” rating given on Tuesday, January 12 by JP Morgan. The stock of Teekay Tankers Ltd. (NYSE:TNK) has “Neutral” rating given on Tuesday, July 26 by UBS. The rating was upgraded by JP Morgan to “Neutral” on Thursday, April 7. Credit Agricole initiated the shares of TNK in a report on Tuesday, December 8 with “Outperform” rating. The firm has “Underperform” rating given on Friday, May 20 by Bank of America.
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 improved, 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.
Guggenheim Capital Limited Com holds 0.01% or 724,968 shares in its portfolio. Columbia Prtn L L C Investment Management holds 0.09% or 418,838 shares in its portfolio. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 5,377 shares. Marshall Wace Ltd Liability Partnership owns 26,145 shares or 0% of their US portfolio. Schwab Charles Invest accumulated 0% or 181,000 shares. Prudential Incorporated has 0% invested in the company for 380,593 shares. Jacobs Levy Equity Mgmt last reported 0.01% of its portfolio in the stock. Glenmede Trust Co Na holds 0% or 1,792 shares in its portfolio. Barclays Public Ltd Liability Company last reported 3,286 shares in the company. New Generation Advsrs Ltd Liability Com last reported 760,097 shares in the company. Balyasny Asset Limited Liability Company owns 19,300 shares or 0% of their US portfolio. Lpl Ltd Llc reported 10,171 shares or 0% of all its holdings. Moreover, Suntrust Banks has 0% invested in Teekay Tankers Ltd. (NYSE:TNK) for 13,894 shares. Moreover, Us Bank De has 0% invested in Teekay Tankers Ltd. (NYSE:TNK) for 27,000 shares. Peak6 Invs Ltd Partnership last reported 34,419 shares in the company.
Another recent and important Teekay Tankers Ltd. (NYSE:TNK) news was published by Marketwired.com which published an article titled: “Teekay Tankers Ltd. Reports Third Quarter 2016 Results” on November 03, 2016.
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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