Teekay Tankers Ltd. (NYSE:TNK) Stock Has Consensus Price Target of $95.50

Teekay Tankers Ltd. (NYSE:TNK) has been given a consensus rating of “Hold” by the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $95.50.

A number of analysts have issued reports on the stock. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings upgraded Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, Evercore reissued an “outperform” rating and set a $116.00 price target on shares of Teekay Tankers in a research note on Tuesday, October 27th.

Insiders Place Their Bets

In related news, Director David Schellenberg sold 7,344 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $100.00, for a total value of $734,400.00. Following the completion of the transaction, the director directly owned 7,344 shares of the company’s stock, valued at approximately $734,400. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Heidi Locke Simon sold 741 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total transaction of $66,690.00. Following the completion of the sale, the director owned 4,000 shares in the company, valued at $360,000. This represents a 15.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,561 shares of company stock valued at $1,380,350 in the last quarter. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teekay Tankers

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in Teekay Tankers by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,848 shares of the shipping company’s stock worth $1,702,000 after buying an additional 737 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Teekay Tankers during the third quarter worth $841,000. Unison Advisors LLC boosted its stake in Teekay Tankers by 1.7% during the third quarter. Unison Advisors LLC now owns 13,598 shares of the shipping company’s stock worth $1,320,000 after buying an additional 230 shares during the period. State of Wyoming increased its position in Teekay Tankers by 46.1% during the third quarter. State of Wyoming now owns 5,332 shares of the shipping company’s stock valued at $518,000 after acquiring an additional 1,683 shares during the last quarter. Finally, Insight Wealth Partners LLC increased its position in Teekay Tankers by 9.2% during the third quarter. Insight Wealth Partners LLC now owns 4,338 shares of the shipping company’s stock valued at $421,000 after acquiring an additional 365 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Trading Down 7.2%

NYSE TNK opened at $88.71 on Monday. The stock’s 50 day moving average is $97.28 and its 200 day moving average is $79.52. Teekay Tankers has a 12 month low of $50.94 and a 12 month high of $110.65. The stock has a market cap of $3.06 billion, a PE ratio of 5.23 and a beta of -0.05.

About Teekay Tankers

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company that owns and operates crude oil and refined petroleum product tankers. Its fleet serves energy companies, commodity traders, government entities and other customers that require the ocean transportation of liquid hydrocarbons.

The company’s activities include vessel ownership, commercial management and technical operation of tankers. Teekay Tankers operates vessels under a combination of spot-market and time-charter arrangements, providing transportation services for crude oil, fuel oil, gasoline, jet fuel and other refined petroleum products.