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 6,823 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
3.75% less ownership
Funds ownership: 64.97% [Q2] → 61.22% (-3.75%) [Q3]
12% less funds holding
Funds holding: 202 [Q2] → 177 (-25) [Q3]
20% less capital invested
Capital invested by funds: $1.32B [Q2] → $1.06B (-$266M) [Q3]
39% less first-time investments, than exits
New positions opened: 37 | Existing positions closed: 61
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
12%
upside
Avg. target
$53
29%
upside
High target
$60
46%
upside
2 analyst ratings
1 positive
50%
0 neutral
0%
1 negative
50%
Jefferies Omar Nokta 21% 1-year accuracy 12 / 57 met price target | 46%upside $60 | Buy Maintained | 14 Nov 2024 |
B of A Securities Ken Hoexter 43% 1-year accuracy 23 / 53 met price target | 12%upside $46 | Underperform Downgraded | 13 Nov 2024 |
Financial journalist opinion
Based on 4 articles about TNK published over the past 30 days
Neutral
Zacks Investment Research
1 day ago
Teekay Tankers (TNK) Stock Declines While Market Improves: Some Information for Investors
Teekay Tankers (TNK) closed at $40.92 in the latest trading session, marking a -0.56% move from the prior day.
Neutral
Zacks Investment Research
1 week ago
Teekay Tankers (TNK) Ascends But Remains Behind Market: Some Facts to Note
In the most recent trading session, Teekay Tankers (TNK) closed at $47.31, indicating a +0.32% shift from the previous trading day.
Negative
Zacks Investment Research
2 weeks ago
Teekay Tankers (TNK) Stock Falls Amid Market Uptick: What Investors Need to Know
Teekay Tankers (TNK) concluded the recent trading session at $42.11, signifying a -1.31% move from its prior day's close.
Neutral
Zacks Investment Research
2 weeks ago
Teekay Tankers (TNK) Stock Declines While Market Improves: Some Information for Investors
In the most recent trading session, Teekay Tankers (TNK) closed at $39.91, indicating a -0.03% shift from the previous trading day.
Positive
Seeking Alpha
1 month 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 month 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 month 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 month 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
1 month 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
1 month 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?
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