Evergreen Capital Management LLC purchased a new position in Teekay Tankers Ltd. (NYSE:TNK) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,472,850 shares of the company’s stock, valued at approximately $4,389,000.
Several other institutional investors have also recently bought and sold shares of TNK. Bank of Montreal Can purchased a new position in Teekay Tankers during the second quarter worth about $117,000. James Investment Research Inc. purchased a new position in Teekay Tankers during the second quarter worth about $543,000. Royal Bank of Canada increased its position in Teekay Tankers by 37.8% in the first quarter. Royal Bank of Canada now owns 234,723 shares of the company’s stock worth $861,000 after buying an additional 64,332 shares during the last quarter. Mount Lucas Management LP increased its position in Teekay Tankers by 13.3% in the first quarter. Mount Lucas Management LP now owns 151,574 shares of the company’s stock worth $556,000 after buying an additional 17,740 shares during the last quarter. Finally, A.R.T. Advisors LLC increased its position in Teekay Tankers by 792.6% in the first quarter. A.R.T. Advisors LLC now owns 300,685 shares of the company’s stock worth $1,103,000 after buying an additional 267,000 shares during the last quarter. 52.62% of the stock is currently owned by institutional investors and hedge funds.
Teekay Tankers Ltd. (NYSE:TNK) traded up 2.86% during midday trading on Wednesday, reaching $2.52. The company’s stock had a trading volume of 1,475,443 shares. The firm has a market capitalization of $393.88 million, a PE ratio of 2.47 and a beta of 2.42. The stock’s 50-day moving average price is $2.67 and its 200 day moving average price is $3.26. Teekay Tankers Ltd. has a 1-year low of $2.42 and a 1-year high of $8.53.
Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. The firm earned $139.62 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the previous year, the firm posted $0.35 EPS. Teekay Tankers’s revenue for the quarter was up 25.4% on a year-over-year basis. Equities analysts anticipate that Teekay Tankers Ltd. will post $0.81 EPS for the current fiscal year.
A number of research firms have recently issued reports on TNK. Zacks Investment Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Morgan Stanley reissued an “equal weight” rating and set a $2.50 price target (down previously from $3.60) on shares of Teekay Tankers in a research report on Friday, August 26th. Danske reissued a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Finally, Vetr downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target on the stock. in a research report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.00.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.
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