Teekay Tankers (NYSE:TNK) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Teekay Tankers (NYSE:TNK) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Other research analysts have also recently issued reports about the stock. Evercore boosted their target price on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group boosted their price objective on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $65.00.

Teekay Tankers Trading Up 0.2%

Shares of NYSE TNK opened at $67.04 on Friday. The stock has a fifty day moving average price of $58.16 and a 200 day moving average price of $54.69. Teekay Tankers has a 12-month low of $33.35 and a 12-month high of $67.56. The company has a market cap of $2.31 billion, a P/E ratio of 7.45 and a beta of -0.27.

Institutional Trading of Teekay Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of TNK. PNC Financial Services Group Inc. raised its position in shares of Teekay Tankers by 10.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock worth $98,000 after purchasing an additional 172 shares during the period. CWA Asset Management Group LLC grew its stake in Teekay Tankers by 1.5% during the 4th quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock worth $621,000 after buying an additional 176 shares during the last quarter. Glenorchy Capital Ltd increased its stake in shares of Teekay Tankers by 0.5% during the fourth quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock valued at $1,973,000 after acquiring an additional 198 shares during the period. CWM LLC raised its holdings in Teekay Tankers by 2.4% during the fourth quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock worth $490,000 after purchasing an additional 216 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Teekay Tankers by 12.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,326 shares of the shipping company’s stock valued at $124,000 after purchasing an additional 262 shares in the last quarter. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Company Profile

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.