Teekay Tankers (TNK) Shares Gap Down to $1.22

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Teekay Tankers Ltd. (NYSE:TNK)’s share price gapped down prior to trading on Friday . The stock had previously closed at $1.14, but opened at $1.22. Teekay Tankers shares last traded at $1.22, with a volume of 10500 shares changing hands.

Several equities analysts have weighed in on the company. Zacks Investment Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 22nd. JPMorgan Chase & Co. cut Teekay Tankers from a “neutral” rating to an “underweight” rating and set a $1.00 price objective for the company. in a report on Friday, February 22nd. Finally, DNB Markets raised Teekay Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $1.11.

The firm has a market cap of $338.38 million, a price-to-earnings ratio of -6.30, a price-to-earnings-growth ratio of 46.33 and a beta of 1.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.14 and a quick ratio of 1.14.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, May 23rd. The shipping company reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Teekay Tankers had a negative return on equity of 5.74% and a negative net margin of 6.95%. The firm had revenue of $135.16 million during the quarter, compared to analysts’ expectations of $141.14 million. During the same period in the previous year, the firm earned ($0.08) EPS. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. As a group, equities research analysts predict that Teekay Tankers Ltd. will post 0.01 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Teekay Tankers by 92.6% during the 4th quarter. SG Americas Securities LLC now owns 36,974 shares of the shipping company’s stock worth $34,000 after buying an additional 17,779 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Teekay Tankers by 442.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 40,916 shares of the shipping company’s stock worth $40,000 after buying an additional 33,367 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth $42,000. Essex Financial Services Inc. raised its holdings in shares of Teekay Tankers by 954.5% during the 4th quarter. Essex Financial Services Inc. now owns 116,000 shares of the shipping company’s stock worth $108,000 after buying an additional 105,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Teekay Tankers by 88.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 131,856 shares of the shipping company’s stock worth $128,000 after buying an additional 62,001 shares in the last quarter. 22.90% of the stock is owned by institutional investors.

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Teekay Tankers Company Profile (NYSE:TNK)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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