Teekay Tankers Ltd. (NYSE:TNK) shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $1.22 and last traded at $1.20. 3,035,310 shares changed hands during mid-day trading, an increase of 122% from the average session volume of 1,368,718 shares. The stock had previously closed at $1.14.

Several brokerages recently issued reports on TNK. Morgan Stanley cut their price target on Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating for the company in a research note on Monday. ValuEngine cut Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Bank of America cut their price target on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research note on Friday, November 10th. Finally, Seaport Global Securities set a $3.00 price target on Teekay Tankers and gave the company a “buy” rating in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Teekay Tankers has a consensus rating of “Hold” and a consensus target price of $1.82.

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $321.84, a P/E ratio of -4.29 and a beta of 2.18.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC lifted its stake in Teekay Tankers by 45.6% during the fourth quarter. Teachers Advisors LLC now owns 334,274 shares of the shipping company’s stock worth $468,000 after purchasing an additional 104,697 shares during the last quarter. California State Teachers Retirement System lifted its stake in Teekay Tankers by 59.8% during the fourth quarter. California State Teachers Retirement System now owns 320,529 shares of the shipping company’s stock worth $449,000 after purchasing an additional 120,000 shares during the last quarter. Mangrove Partners bought a new stake in Teekay Tankers during the fourth quarter worth $133,000. Deutsche Bank AG lifted its stake in Teekay Tankers by 373.6% during the fourth quarter. Deutsche Bank AG now owns 561,377 shares of the shipping company’s stock worth $784,000 after purchasing an additional 442,843 shares during the last quarter. Finally, Huber Capital Management LLC lifted its stake in Teekay Tankers by 13.0% during the fourth quarter. Huber Capital Management LLC now owns 16,259,924 shares of the shipping company’s stock worth $22,764,000 after purchasing an additional 1,876,690 shares during the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

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Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.

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