Short Interest in Teekay Tankers Ltd. (NYSE:TNK) Decreases By 19.4%

Teekay Tankers Ltd. (NYSE:TNK) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 496,500 shares, a drop of 19.4% from the January 15th total of 616,000 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 430,600 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Teekay Tankers

A number of institutional investors have recently bought and sold shares of TNK. Custom Index Systems LLC lifted its stake in shares of Teekay Tankers by 4.0% in the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after purchasing an additional 216 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Teekay Tankers by 5.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after buying an additional 277 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 286 shares during the last quarter. CWM LLC raised its position in shares of Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 482 shares during the period. Finally, U S Global Investors Inc. boosted its stake in Teekay Tankers by 11.0% during the 3rd quarter. U S Global Investors Inc. now owns 4,897 shares of the shipping company’s stock worth $285,000 after acquiring an additional 486 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TNK. Jefferies Financial Group dropped their target price on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Bank of America restated an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Teekay Tankers has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded down $0.42 during midday trading on Friday, reaching $40.43. The company’s stock had a trading volume of 382,748 shares, compared to its average volume of 527,914. Teekay Tankers has a fifty-two week low of $36.04 and a fifty-two week high of $74.20. The company has a market capitalization of $1.39 billion, a P/E ratio of 3.32, a P/E/G ratio of 1.98 and a beta of -0.43. The business’s fifty day simple moving average is $41.05 and its 200-day simple moving average is $48.35.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.