Teekay Tankers (NYSE:TNK) Stock Rating Upgraded by Zacks Research

Teekay Tankers (NYSE:TNK) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

TNK has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Evercore ISI upped their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group raised their target price on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Clarkson Capital upgraded Teekay Tankers to a “strong-buy” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, Teekay Tankers currently has a consensus rating of “Buy” and an average price target of $65.00.

Teekay Tankers Stock Performance

TNK stock opened at $64.44 on Wednesday. The stock’s 50 day moving average price is $57.53 and its 200 day moving average price is $54.07. The firm has a market cap of $2.22 billion, a P/E ratio of 7.16 and a beta of -0.27. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $65.75.

Institutional Trading of Teekay Tankers

Institutional investors and hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC grew its stake in Teekay Tankers by 1.5% in the fourth quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock worth $621,000 after purchasing an additional 176 shares in the last quarter. Glenorchy Capital Ltd lifted its holdings in Teekay Tankers by 0.5% during the 4th quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock worth $1,973,000 after buying an additional 198 shares during the last quarter. CWM LLC grew its position in shares of Teekay Tankers by 2.4% in the 4th quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock worth $490,000 after acquiring an additional 216 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Teekay Tankers by 5.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,374 shares of the shipping company’s stock valued at $341,000 after acquiring an additional 349 shares during the last quarter. Finally, Unison Advisors LLC raised its position in shares of Teekay Tankers by 2.8% during the 3rd quarter. Unison Advisors LLC now owns 13,212 shares of the shipping company’s stock valued at $668,000 after acquiring an additional 357 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

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.