Teekay Tankers Ltd. (NYSE:TNK) Closed Over Its 50 Day Average


It is currently trading at $1.62 just a bit higher than $1.51, the stock’s 50 day moving average and which is well below the 200 day moving average of $1.84. The 50 day moving average moved up $0.11 and the 200 day average was down $-0.22. Teekay Tankers Ltd. shares had a trading volume of 1,309K on Wednesday. Volume was down 36.60% under the stocks average daily volume.

Investors are more bearish on the company recently as shown by the uptick in short interest. The stock realized a rise in short interest between August 15, 2017 and August 31, 2017 of 7.25%. Short interest grew from 12,163,252 to 13,044,774 over that timeframe. With short interest at 13,044,774 and short average daily volume at 1,312,830, the short-interest ratio is 10.0 and the short interest percentage is 0.08% as of August 31.

These firms have modified their investment in TNK. Cubist Systematic Strategies, LLC bolstered its stake by buying 9,526 shares an increase of 21.8% from 03/31/2017 to 06/30/2017. Cubist Systematic Strategies, LLC now controls 53,279 shares worth $100,000. The total value of its holdings increased 11.1%. As of the end of the quarter Ubs Group Ag had bought 33,602 shares growing its position 1,228.1%. The value of the investment in TNK increased from $6,000 to $68,000 a change of 1,033.3% quarter over quarter.

Bluecrest Capital Management Ltd augmented its ownership by buying 1,481 shares an increase of 6.0% as of 06/30/2017. Bluecrest Capital Management Ltd now holds 26,357 shares valued at $50,000. The value of the position overall is down by 2.0%. As of quarter end Engineers Gate Manager Lp had disposed of a total of 71,724 shares trimming its stake by 78.9%. The value of the investment in Teekay Tankers Ltd. went from $186,000 to $36,000 a change of $150,000 quarter to quarter.

The company is so far trading unchanged from yesterday’s close of 1.62. The company also recently announced a dividend paid on Friday June 2nd, 2017. The dividend was $0.030 per share for the quarter which is $0.12 annualized. This dividend amount represented a yield of $7.59. The ex-dividend date was Thursday the 10th of August 2017.

In the latest earnings report the EPS was $-0.22 and is estimated to be $-0.03 for the current year with 169,963,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.05 and the next full year EPS is projected to be $0.26.

Teekay Tankers Ltd., launched on October 17, 2007, is an international provider of marine transportation to the oil industries. The Business’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. The Business’s conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts. The Business’s ship-to-ship transfer segment consists of its lightering support services, including those provided to the Business’s conventional tanker segment as part of full service lightering operations and other related services. The Business’s operations are managed by Teekay Tankers Management Services Ltd., which provides the Company with commercial, technical, administrative and strategic services..