In a report released on June 11, Peter Christensen from Cleaves Securities maintained a Buy rating on Teekay Tankers (TNK – Research Report), with a price target of $79.00. The company’s shares closed yesterday at $38.36.
According to TipRanks, Christensen is a 5-star analyst with an average return of 35.7% and a 64.66% success rate. Christensen covers the Energy sector, focusing on stocks such as Avance Gas Holding, DHT Holdings, and Frontline.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teekay Tankers with a $58.60 average price target, which is a 52.76% upside from current levels. In a report released on June 2, Drewry Financial also reiterated a Buy rating on the stock with a $49.00 price target.
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TNK market cap is currently $1.3B and has a P/E ratio of 3.21.
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Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Conventional Tanker and Ship-to-Ship (STS) Transfer segment. The Conventional Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts. The STS Transfer segment offers lightering support services provided to conventional tanker segment as part of the full service lightering operations. The company was founded in October 2007 and is headquartered in Hamilton, Bermuda.
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