Teekay Tankers Ltd. (NYSE:TNK) Given Average Recommendation of “Buy” by Brokerages

Shares of Teekay Tankers Ltd. (NYSE:TNK) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $65.00.

A number of analysts recently weighed in on TNK shares. Wall Street Zen raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Finally, Evercore lifted their target price on shares of Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $66.73 on Friday. The firm has a market capitalization of $2.30 billion, a PE ratio of 7.41 and a beta of -0.27. The business has a 50 day simple moving average of $57.71 and a two-hundred day simple moving average of $54.23. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $67.20.

Institutional Investors Weigh In On Teekay Tankers

Several large investors have recently bought and sold shares of TNK. Mirae Asset Global Investments Co. Ltd. acquired a new position in Teekay Tankers during the fourth quarter worth $28,000. Leonteq Securities AG acquired a new stake in shares of Teekay Tankers during the 4th quarter worth approximately $34,000. GAMMA Investing LLC raised its position in shares of Teekay Tankers by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock valued at $38,000 after buying an additional 394 shares during the period. State of Alaska Department of Revenue acquired a new position in Teekay Tankers in the third quarter valued at approximately $54,000. Finally, Sunbelt Securities Inc. acquired a new position in Teekay Tankers in the third quarter valued at approximately $63,000. 52.67% of the stock is currently 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.