Institutional Investors Negative on on TEEKAY TANKERS LTD. Dropped

June 12, 2018 - By Peter Erickson

Teekay Tankers Ltd. (NYSE:TNK) Logo


TEEKAY TANKERS LTD. (NYSE:TNK) institutional sentiment decreased to 0.86 in Q1 2018. Its down -0.70, from 1.56 in 2017Q4. The ratio is negative, as 38 investment managers started new and increased equity positions, while 44 sold and decreased their stock positions in TEEKAY TANKERS LTD.. The investment managers in our partner’s database now possess: 81.29 million shares, down from 84.25 million shares in 2017Q4. Also, the number of investment managers holding TEEKAY TANKERS LTD. in their top 10 equity positions was flat from 2 to 2 for the same number . Sold All: 19 Reduced: 25 Increased: 30 New Position: 8.

Teekay Tankers Ltd. engages in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. The company has market cap of $295.42 million. The firm also provides ship-to-ship transfer services, including lightering and lightering support, consultancy, and LNG terminal management services. It currently has negative earnings. As of December 31, 2016, its fleet consisted of 43 owned conventional tankers, 7 in-chartered vessels, and 1 jointly-owned very large crude carrier; and 7 ship-to-ship support vessels.

The stock decreased 3.51% or $0.04 during the last trading session, reaching $1.1. About 406,921 shares traded. Teekay Tankers Ltd. (NYSE:TNK) has declined 49.53% since June 12, 2017 and is downtrending. It has underperformed by 62.10% the S&P500.

Analysts await Teekay Tankers Ltd. (NYSE:TNK) to report earnings on August, 2. They expect $-0.12 earnings per share, down 200.00 % or $0.08 from last year’s $-0.04 per share. After $-0.08 actual earnings per share reported by Teekay Tankers Ltd. for the previous quarter, Wall Street now forecasts 50.00 % negative EPS growth.

Oceanic Investment Management Ltd holds 7.62% of its portfolio in Teekay Tankers Ltd. for 5.30 million shares. Greywolf Capital Management Lp owns 2.14 million shares or 1.66% of their US portfolio. Moreover, Huber Capital Management Llc has 1.15% invested in the company for 16.50 million shares. The New York-based Berson & Corrado Investment Advisors Llc has invested 0.58% in the stock. Bluemountain Capital Management Llc, a New York-based fund reported 17.49 million shares.

Teekay Tankers Ltd. (NYSE:TNK) Ratings Coverage

Ratings analysis reveals 33% of Teekay Tankers Ltd’s analysts are positive. Out of 3 Wall Street analysts rating Teekay Tankers Ltd, 1 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $1.1 while the high is $2.5. The stock’s average target of $1.63 is 48.18% above today’s ($1.1) share price. TNK was included in 4 notes of analysts from January 4, 2018. The firm earned “Hold” rating on Monday, February 26 by UBS. Morgan Stanley maintained Teekay Tankers Ltd. (NYSE:TNK) rating on Monday, February 12. Morgan Stanley has “Equal-Weight” rating and $1.3 target. Morgan Stanley maintained Teekay Tankers Ltd. (NYSE:TNK) rating on Wednesday, April 25. Morgan Stanley has “Equal-Weight” rating and $1.1 target. The stock has “Buy” rating by Seaport Global on Thursday, January 4.

Another recent and important Teekay Tankers Ltd. (NYSE:TNK) news was published by which published an article titled: “Teekay Tankers Ltd. Reports first Quarter 2018 Results” on May 17, 2018.

Teekay Tankers Ltd. (NYSE:TNK) Ratings Chart

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