Teekay Tankers Ltd. (TNK) – What Are Brokerages Thinking About This Stock?

Teekay Tankers Ltd. (NYSE:TNK) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $95.50.

TNK has been the subject of several research reports. Evercore reissued an “outperform” rating and set a $116.00 price objective on shares of Teekay Tankers in a research report on Tuesday, October 27th. Weiss Ratings raised shares of Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Teekay Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in Teekay Tankers in the second quarter worth $28,000. IFP Advisors Inc raised its holdings in shares of Teekay Tankers by 672.0% during the second quarter. IFP Advisors Inc now owns 1,212 shares of the shipping company’s stock worth $79,000 after acquiring an additional 1,055 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Teekay Tankers by 291.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the shipping company’s stock worth $66,000 after purchasing an additional 916 shares during the last quarter. GAMMA Investing LLC increased its position in Teekay Tankers by 14.1% during the third quarter. GAMMA Investing LLC now owns 1,518 shares of the shipping company’s stock worth $147,000 after buying an additional 188 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Teekay Tankers in the first quarter worth approximately $221,000. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Price Performance

TNK stock opened at $85.66 on Monday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 5.05 and a beta of -0.05. Teekay Tankers has a 12 month low of $50.94 and a 12 month high of $110.65. The company has a fifty day moving average price of $97.21 and a 200 day moving average price of $79.75.

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.