The stock of Teekay Tankers Ltd. (NYSE:TNK) is a huge mover today! About 944,678 shares traded hands. Teekay Tankers Ltd. (NYSE:TNK) has declined 36.97% since April 6, 2016 and is downtrending. It has underperformed by 38.93% the S&P500.
The move comes after 8 months negative chart setup for the $354.33M company. It was reported on Nov, 8 by Barchart.com. We have $1.89 PT which if reached, will make NYSE:TNK worth $46.06 million less.
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. UBS downgraded the shares of TNK in a report on Tuesday, July 26 to “Neutral” rating. Seaport Global initiated the stock with “Buy” rating in Wednesday, May 4 report. The company was downgraded on Tuesday, September 22 by Zacks. Danske Bank initiated Teekay Tankers Ltd. (NYSE:TNK) rating on Wednesday, March 2. Danske Bank has “Hold” rating and $4.50 price target. The firm earned “Buy” rating on Thursday, October 22 by UBS. The rating was downgraded by Bank of America to “Underperform” on Friday, May 20. The stock of Teekay Tankers Ltd. (NYSE:TNK) earned “Underweight” rating by JP Morgan on Tuesday, January 12. The stock of Teekay Tankers Ltd. (NYSE:TNK) earned “Buy” rating by Deutsche Bank on Friday, November 6. The company was upgraded on Friday, September 4 by UBS. Barclays Capital initiated the stock with “Overweight” rating in Monday, January 11 report.
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.
Columbia L L C Invest Management holds 0.09% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 418,838 shares. Huber Cap Mngmt Lc, a California-based fund reported 19.18 million shares. Loews accumulated 0% or 61,790 shares. Peak6 Invests Ltd Partnership holds 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 34,419 shares. Panagora Asset Mngmt Inc holds 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK) for 51,659 shares. Oxford Asset Mngmt accumulated 1.94 million shares or 0.24% of the stock. Muhlenkamp And Co Inc last reported 49,075 shares in the company. Pinnacle Ltd Liability last reported 10,000 shares in the company. Alliancebernstein Limited Partnership last reported 125,057 shares in the company. Atria Invests Ltd Liability Corp last reported 10,000 shares in the company. Susquehanna Gp Llp has 0% invested in the company for 55,218 shares. Botty Ltd Limited Liability Company holds 0.15% or 87,318 shares in its portfolio. Weiss Multi reported 179,200 shares or 0.04% of all its holdings. Fincl Bank Of New York Mellon has invested 0% of its portfolio in Teekay Tankers Ltd. (NYSE:TNK). Moreover, Principal Finance Group has 0% invested in Teekay Tankers Ltd. (NYSE:TNK) for 21,822 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.