Teekay Tankers Ltd. (NYSE:TNK) Short Interest Up 10.3% in January

Teekay Tankers Ltd. (NYSE:TNK) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 841,700 shares, a growth of 10.3% from the January 15th total of 763,000 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 669,200 shares, the days-to-cover ratio is presently 1.3 days.

Several hedge funds have recently added to or reduced their stakes in TNK. Vanguard Group Inc. boosted its stake in shares of Teekay Tankers by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 448,239 shares of the shipping company’s stock worth $574,000 after acquiring an additional 11,757 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Teekay Tankers during the 2nd quarter valued at $65,000. CIBC Private Wealth Group LLC bought a new stake in shares of Teekay Tankers during the 3rd quarter valued at $390,000. Rhumbline Advisers raised its position in shares of Teekay Tankers by 10.0% during the 3rd quarter. Rhumbline Advisers now owns 296,862 shares of the shipping company’s stock valued at $386,000 after purchasing an additional 27,053 shares during the period. Finally, FNY Investment Advisers LLC raised its position in shares of Teekay Tankers by 38.5% during the 3rd quarter. FNY Investment Advisers LLC now owns 139,723 shares of the shipping company’s stock valued at $181,000 after purchasing an additional 38,822 shares during the period.

A number of research analysts have issued reports on TNK shares. Jefferies Financial Group upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. ValuEngine lowered shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 3rd. Bank of America upgraded shares of Teekay Tankers from an “underperform” rating to a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Teekay Tankers in a report on Sunday, November 17th. Finally, Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, December 26th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Teekay Tankers currently has a consensus rating of “Hold” and a consensus target price of $21.50.

Shares of TNK stock traded down $1.16 during trading hours on Friday, hitting $14.84. The company’s stock had a trading volume of 644,400 shares, compared to its average volume of 853,481. The company has a 50 day moving average of $20.22 and a 200 day moving average of $9.34. The stock has a market cap of $527.39 million, a PE ratio of -61.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. Teekay Tankers has a 12-month low of $7.44 and a 12-month high of $25.74.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Wednesday, November 13th. The shipping company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.08. The business had revenue of $182.30 million for the quarter, compared to the consensus estimate of $95.10 million. Teekay Tankers had a negative net margin of 1.19% and a negative return on equity of 0.49%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.56) EPS. As a group, analysts anticipate that Teekay Tankers will post 1.94 earnings per share for the current fiscal year.

About Teekay Tankers

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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