The stock of Teekay Tankers Ltd. (NYSE:TNK) is a huge mover today! About 495,309 shares traded hands. Teekay Tankers Ltd. (NYSE:TNK) has declined 41.12% since April 28, 2016 and is downtrending. It has underperformed by 47.04% the S&P500.
The move comes after 5 months positive chart setup for the $378.01 million company. It was reported on Dec, 1 by Barchart.com. We have $2.53 PT which if reached, will make NYSE:TNK worth $26.46M more.
Analysts await Teekay Tankers Ltd. (NYSE:TNK) to report earnings on February, 16. They expect $0.06 earnings per share, down 80.65% or $0.25 from last year’s $0.31 per share. TNK’s profit will be $9.61 million for 9.83 P/E if the $0.06 EPS becomes a reality. After $-0.01 actual earnings per share reported by Teekay Tankers Ltd. for the previous quarter, Wall Street now forecasts -700.00% 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 firm earned “Buy” rating on Friday, September 4 by UBS. Seaport Global initiated the stock with “Buy” rating in Wednesday, May 4 report. The firm earned “Buy” rating on Thursday, October 22 by UBS. The stock has “Hold” rating given by Zacks on Tuesday, September 22. The rating was initiated by Barclays Capital with “Overweight” on Monday, January 11. The rating was upgraded by Deutsche Bank to “Buy” on Friday, November 6. The firm has “Underweight” rating by JP Morgan given on Tuesday, January 12. The stock of Teekay Tankers Ltd. (NYSE:TNK) earned “Underperform” rating by Bank of America on Friday, May 20. As per Tuesday, December 8, the company rating was initiated by Credit Agricole. The firm earned “Neutral” rating on Tuesday, July 26 by UBS.
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 decreased to 0.98 in Q2 2016. Its down 0.19, from 1.17 in 2016Q1. The ratio turned negative, 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.
Deutsche Commercial Bank Ag last reported 0% of its portfolio in the stock. Susquehanna Group Llp accumulated 0% or 55,218 shares. Ameriprise Fin owns 1.96M shares or 0% of their US portfolio. Goodwin Daniel L holds 15,000 shares or 0.01% of its portfolio. Barclays Public Limited Company accumulated 3,286 shares or 0% of the stock. Alliancebernstein Limited Partnership holds 0% or 125,057 shares in its portfolio. Prudential Fincl Incorporated has invested 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK). Moreover, Wcm Invest Mngmt Ca has 0.12% invested in Teekay Tankers Ltd. (NYSE:TNK) for 2.59 million shares. Blackrock Limited Liability Corp holds 0% or 38,589 shares in its portfolio. Creative Planning has 0% invested in the company for 7,800 shares. Axa reported 33,514 shares or 0% of all its holdings. Schwab Charles Mngmt Inc has 181,000 shares for 0% of their US portfolio. California State Teachers Retirement accumulated 0% or 244,329 shares. Teachers Advsrs has 0% invested in the company for 207,037 shares. New Generation Advsrs Ltd holds 1.43% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 760,097 shares.
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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