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

Key Points

• Analysts hold a mixed view of Teekay Tankers, with one sell, three hold and two buy ratings; the consensus twelve-month price target is $95.50.
• TNK opened at $100.67, near its $110.65 12-month high, with a market capitalization of $3.48 billion and a low P/E ratio of 5.93.
• Institutional ownership stands at 52.67%, while insiders sold 14,561 shares worth approximately $1.38 million over the past three months.

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) have been given a consensus rating of "Hold" by the six research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $95.50.

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

Teekay Tankers Trading Down 0.1%

NYSE TNK opened at $100.67 on Monday. The firm's fifty day simple moving average is $97.15 and its two-hundred day simple moving average is $79.03. The firm has a market capitalization of $3.48 billion, a P/E ratio of 5.93 and a beta of -0.05. Teekay Tankers has a 12-month low of $50.94 and a 12-month high of $110.65.

Insider Transactions at Teekay Tankers

In other Teekay Tankers news, Director Rohit (Rk2) Kapoor sold 6,375 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $89.28, for a total transaction of $569,160.00. Following the sale, the director directly owned 2,126 shares of the company's stock, valued at $189,809.28. The trade was a 74.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Heidi Locke Simon sold 741 shares of the business'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 sale, the director directly owned 4,000 shares of the company's stock, valued at approximately $360,000. The trade was a 15.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 14,561 shares of company stock valued at $1,380,350 over the last three months. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TNK. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Teekay Tankers during the third quarter valued at approximately $841,000. Unison Advisors LLC boosted its holdings in Teekay Tankers by 1.7% in the 3rd quarter. Unison Advisors LLC now owns 13,598 shares of the shipping company's stock worth $1,320,000 after buying an additional 230 shares during the period. State of Wyoming lifted its holdings in shares of Teekay Tankers by 46.1% in the 3rd quarter. State of Wyoming now owns 5,332 shares of the shipping company's stock valued at $518,000 after acquiring an additional 1,683 shares during the last quarter. Insight Wealth Partners LLC increased its stake in Teekay Tankers by 9.2% in the 3rd quarter. Insight Wealth Partners LLC now owns 4,338 shares of the shipping company's stock worth $421,000 after buying an additional 365 shares during the period. Finally, U S Global Investors Inc. lifted its stake in shares of Teekay Tankers by 86.6% during the 3rd quarter. U S Global Investors Inc. now owns 9,385 shares of the shipping company's stock worth $911,000 after purchasing an additional 4,355 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors.

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.

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