Teekay Tankers (NYSE:TNK) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Teekay Tankers (NYSE:TNKGet Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the shipping company’s stock.

TNK has been the subject of several other research reports. TheStreet upgraded shares of Teekay Tankers from a c rating to a b rating in a report on Thursday, February 23rd. Jefferies Financial Group lifted their price objective on shares of Teekay Tankers from $44.00 to $51.00 and gave the company a buy rating in a research note on Thursday, February 23rd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $51.00.

Teekay Tankers Price Performance

NYSE:TNK opened at $40.94 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.70 and a debt-to-equity ratio of 0.44. Teekay Tankers has a 52 week low of $12.63 and a 52 week high of $48.05. The firm’s 50-day simple moving average is $36.47 and its 200 day simple moving average is $32.54.

Teekay Tankers (NYSE:TNKGet Rating) last posted its quarterly earnings results on Thursday, February 23rd. The shipping company reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.82. Teekay Tankers had a net margin of 21.55% and a return on equity of 23.65%. The company had revenue of $367.30 million for the quarter, compared to the consensus estimate of $211.54 million. During the same period last year, the company posted ($0.74) EPS. The firm’s quarterly revenue was up 129.1% compared to the same quarter last year. On average, analysts forecast that Teekay Tankers will post 11.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Teekay Tankers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Teekay Tankers by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,714,667 shares of the shipping company’s stock worth $52,827,000 after purchasing an additional 48,556 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Teekay Tankers by 35.3% during the third quarter. BlackRock Inc. now owns 1,675,406 shares of the shipping company’s stock valued at $46,140,000 after purchasing an additional 437,348 shares during the period. Millennium Management LLC boosted its stake in shares of Teekay Tankers by 16.0% during the fourth quarter. Millennium Management LLC now owns 1,016,716 shares of the shipping company’s stock valued at $31,325,000 after purchasing an additional 140,258 shares during the period. Morgan Stanley lifted its stake in Teekay Tankers by 15.5% in the fourth quarter. Morgan Stanley now owns 846,399 shares of the shipping company’s stock worth $26,078,000 after acquiring an additional 113,898 shares during the period. Finally, Marshall Wace LLP lifted its stake in Teekay Tankers by 61.9% in the fourth quarter. Marshall Wace LLP now owns 583,416 shares of the shipping company’s stock worth $17,975,000 after acquiring an additional 223,057 shares during the period. 28.74% of the stock is currently owned by institutional investors.

About Teekay Tankers

(Get Rating)

Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Tanker and Ship-to-Ship (STS) Transfer segment. The Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts.

Featured Stories

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.