Teekay Tankers
About: Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.
Employees: 1,590
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
5% less repeat investments, than reductions
Existing positions increased: 59 | Existing positions reduced: 62
3.46% less ownership
Funds ownership: 63.8% [Q2] → 60.34% (-3.46%) [Q3]
12% less funds holding
Funds holding: 202 [Q2] → 177 (-25) [Q3]
20% less capital invested
Capital invested by funds: $1.3B [Q2] → $1.04B (-$257M) [Q3]
40% less first-time investments, than exits
New positions opened: 37 | Existing positions closed: 62
62% less call options, than puts
Call options by funds: $6.33M | Put options by funds: $16.6M
100% less funds holding in top 10
Funds holding in top 10: 1 [Q2] → 0 (-1) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$46
19%
upside
Avg. target
$53
37%
upside
High target
$60
55%
upside
2 analyst ratings
1 positive
50%
0 neutral
0%
1 negative
50%
Jefferies Omar Nokta 11% 1-year accuracy 6 / 57 met price target | 55%upside $60 | Buy Maintained | 14 Nov 2024 |
B of A Securities Ken Hoexter 42% 1-year accuracy 20 / 48 met price target | 19%upside $46 | Underperform Downgraded | 13 Nov 2024 |
Financial journalist opinion
Based on 6 articles about TNK published over the past 30 days
Positive
Seeking Alpha
1 week ago
Teekay Tankers: Valuation Secured By Scrap Value And Huge Cash Pile
Teekay Tankers is undervalued, trading near scrap value, despite a fleet with 10 years of operational life and strong free cash flow. The company has a solid financial position with no debt and $462.9 million in cash, aiming to renew its aging fleet. Despite lower expected rates, TNK's fair value is estimated at $50 per share, offering significant upside potential and limited downside risk.
Positive
Seeking Alpha
1 week ago
Teekay Corporation: Offering Exposure To Teekay Tankers At A Discount
At the end of October 2024, Teekay Corporation owned 10.6 million Class A and Class B common shares of Teekay Tankers, currently worth ~$403 million. After the Teekay Tankers holdings, the second-largest asset of Teekay Corporation is a net cash position of $281.1 million. Once Teekay Tankers and Teekay Corporation are combined, the net cash balance increases to $744.6 million, which is unparalleled in the tanker industry.
Neutral
Zacks Investment Research
1 week ago
Is It Worth Investing in Teekay Tankers (TNK) Based on Wall Street's Bullish Views?
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Neutral
GlobeNewsWire
1 week ago
Teekay Group Announces Changes to Boards of Directors
HAMILTON, Bermuda, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) announced today the following changes to their respective Boards of Directors, which are effective as of December 31, 2024. The changes further streamline and simplify the Teekay Group, and align with the previously announced goal of having Teekay Tankers serve as the sole operating platform within the Teekay Group and Teekay focusing on managing its controlling interest in Teekay Tankers:
Positive
Seeking Alpha
2 weeks ago
Teekay Tankers: Significant Free Cash Flow Generation With 35% Of Market Cap In Net Cash
Despite large declines in spot rates over the last few months, Teekay Tanker is still generating significant free cash flows. Spot rates would have to fall by another 50% before Teekay becomes neutral on a free cash flow basis. Even if it occurs, the company would be supported by its net cash balance of $463.5 million, which represents 35% of the market cap.
Positive
Zacks Investment Research
3 weeks ago
Is Teekay Tankers (TNK) a Buy as Wall Street Analysts Look Optimistic?
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Neutral
Seeking Alpha
1 month ago
Teekay Tankers: Mediocre Fleet And Unattractive Shareholder Returns
In recent months, seasonality has impacted dirty tanker rates. Besides that, China's crude imports declined. On the other hand, tanker supply fundamentals are still favorable. Teekay Tankers reported $52.4 million operating income for 3Q24, a 35% lower figure than 3Q23. 3Q24 net income is $58.8 million, and 3Q24 EPS is $1.69/share. The balance sheet is TNK's strength. The company has 3.1% Total Debt to Equity and 8.9% Total Liabilities to Total Assets.
Neutral
Seeking Alpha
1 month ago
Teekay Tankers Ltd. (TNK) Q3 2024 Earnings Call Transcript
Teekay Tankers Ltd. (TNK) Q3 2024 Earnings Call Transcript
Negative
Zacks Investment Research
1 month ago
Teekay Tankers (TNK) Lags Q3 Earnings and Revenue Estimates
Teekay Tankers (TNK) came out with quarterly earnings of $1.83 per share, missing the Zacks Consensus Estimate of $1.90 per share. This compares to earnings of $2.21 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
Teekay Tankers Ltd. Reports Third Quarter 2024 Results and Declares Dividend
HAMILTON, Bermuda, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended September 30, 2024 and announced that its Board of Directors has declared a cash dividend of $0.25 per share for the quarter ended September 30, 2024. The cash dividend is payable on November 22, 2024 to all shareholders of record as at November 12, 2024.
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