Teekay Tankers (NYSE:TNK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Teekay Tankers (NYSE:TNK) from a hold rating to a buy rating in a research note released on Saturday morning.

TNK has been the subject of a number of other research reports. Zacks Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Jefferies Financial Group raised their price target on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Clarkson Capital upgraded shares of Teekay Tankers to a “strong-buy” rating in a report on Wednesday, October 8th. Evercore ISI increased their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of “Buy” and a consensus price target of $65.00.

Teekay Tankers Price Performance

Shares of TNK stock opened at $65.19 on Friday. The stock’s 50-day moving average is $57.15 and its 200 day moving average is $53.78. Teekay Tankers has a 1-year low of $33.35 and a 1-year high of $65.64. The company has a market cap of $2.25 billion, a P/E ratio of 7.24 and a beta of -0.27.

Institutional Trading of Teekay Tankers

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of Teekay Tankers by 4.1% during the 2nd quarter. Franklin Resources Inc. now owns 122,728 shares of the shipping company’s stock worth $5,120,000 after purchasing an additional 4,830 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Teekay Tankers by 89.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 24,693 shares of the shipping company’s stock worth $1,030,000 after buying an additional 11,675 shares in the last quarter. CWM LLC boosted its holdings in Teekay Tankers by 124.2% during the second quarter. CWM LLC now owns 7,803 shares of the shipping company’s stock worth $326,000 after buying an additional 4,323 shares in the last quarter. American Century Companies Inc. grew its position in Teekay Tankers by 7.5% during the second quarter. American Century Companies Inc. now owns 1,010,177 shares of the shipping company’s stock valued at $42,145,000 after buying an additional 70,578 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Teekay Tankers by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 361,609 shares of the shipping company’s stock valued at $15,086,000 after acquiring an additional 14,052 shares during the period. 52.67% of the stock is owned by hedge funds and other institutional investors.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.