Price Action Report: What’s in Teekay Tankers Ltd. After Today’s Big Increase?

Price Action Report: What's in Teekay Tankers Ltd. After Today's Big Increase?

The stock of Teekay Tankers Ltd. (NYSE:TNK) is a huge mover today! About 1.46M shares traded hands. Teekay Tankers Ltd. (NYSE:TNK) has declined 42.90% since April 4, 2016 and is downtrending. It has underperformed by 43.99% the S&P500.
The move comes after 6 months positive chart setup for the $311.84 million company. It was reported on Nov, 4 by Barchart.com. We have $3.27 PT which if reached, will make NYSE:TNK worth $162.16M 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. On Thursday, October 22 the stock rating was maintained by UBS with “Buy”. The firm earned “Underweight” rating on Tuesday, January 12 by JP Morgan. As per Tuesday, September 22, the company rating was downgraded by Zacks. Credit Agricole initiated the shares of TNK in a report on Tuesday, December 8 with “Outperform” rating. JP Morgan upgraded the shares of TNK in a report on Thursday, April 7 to “Neutral” rating. On Friday, May 20 the stock rating was downgraded by Bank of America to “Underperform”. UBS downgraded Teekay Tankers Ltd. (NYSE:TNK) rating on Tuesday, July 26. UBS has “Neutral” rating and $3 price target. UBS upgraded the stock to “Buy” rating in Friday, September 4 report. The firm has “Buy” rating given on Friday, November 6 by Deutsche Bank. The rating was initiated by Danske Bank with “Hold” on Wednesday, March 2.

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 2016 Q2. Its up 0.08, from 1.09 in 2016Q1. The ratio is positive, 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.
Meeder Asset Management owns 150,261 shares or 0.04% of their US portfolio. Axa reported 33,514 shares or 0% of all its holdings. Tudor Et Al holds 0.01% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 107,700 shares. Parametric Port Assoc Ltd Limited Liability Company reported 155,750 shares or 0% of all its holdings. Berson & Corrado Invest Advsr Ltd Liability Corporation holds 1.21 million shares or 2.34% of its portfolio. Frontier Management Co accumulated 39,308 shares or 0.01% of the stock. Ameriprise Finance last reported 0% of its portfolio in the stock. Goodwin Daniel L has 15,000 shares for 0.01% of their US portfolio. Blackrock Fund Advsrs holds 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 2.97M shares. Qs Ltd, a New York-based fund reported 475,700 shares. American Intl Gp holds 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 67,076 shares. Creative Planning accumulated 7,800 shares or 0% of the stock. Pinnacle Hldg Ltd Liability Company has 10,000 shares for 0% of their US portfolio. Geode Capital Ltd Company accumulated 128,960 shares or 0% of the stock. Kcg holds 98,576 shares or 0.01% of its portfolio.

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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