As of Wednesday, Teekay Tankers Ltd.’s (NYSE:TNK) stock closed at $43.21, up from $43.04 the previous day. While Teekay Tankers Ltd. has overperformed by 0.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TNK rose by 102.27%, with highs and lows ranging from $46.85 to $21.21, whereas the simple moving average jumped by 20.17% in the last 200 days.
On July 21, 2022, Jefferies started tracking Teekay Tankers Ltd. (NYSE: TNK) recommending Buy.
Analysis of Teekay Tankers Ltd. (TNK)
Investors in Teekay Tankers Ltd. will get a return regardless of how the company performs over the next quarter since the company’s dividend stands at $1.00 per share. Further, the quarter-over-quarter increase in sales is 126.80%, showing a positive trend in the upcoming months.
One of the most important indicators of Teekay Tankers Ltd.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 40.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and TNK is recording 455.44K average volume. On a monthly basis, the volatility of the stock is set at 3.50%, whereas on a weekly basis, it is put at 3.41%, with a gain of 7.49% over the past seven days. Furthermore, long-term investors anticipate a median target price of $59.20, showing growth from the present price of $43.21, which can serve as yet another indication of whether TNK is worth investing in or should be passed over.
How Do You Analyze Teekay Tankers Ltd. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 31.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 43.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TNK shares?
The recent increase in stakes in TNK appears to be a result of several institutional investors and hedge funds increasing their positions. Dimensional Fund Advisors LP’s position in TNK has increased by 3.67% in the first quarter. The company now owns 1,777,531 shares of the stock, with a value of $67.96 million, following the purchase of 62,864 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in TNK during the first quarter, downing its stake by -10.73%. During the last quarter, the company picked up -140,702 additional shares for a total stake of worth $44.74 million, bringing number of shares owned by the company to 1,170,363.
During the first quarter, Millennium Management LLC added a 70,428 position in TNK. Morgan Stanley & Co. LLC purchased an additional 0.34 million shares in the last quarter, increasing its holdings by 61.18%, now holding 0.88 million shares worth $33.81 million. At the end of the first quarter, Marshall Wace LLP increased its TNK holdings by 15.71% and now holds 0.68 million TNK shares valued at $25.81 million with the added 91638.0 shares during the period. TNK shares are owned by institutional investors to the tune of 43.10% at present.