TNK Stock Summary and Trading Ideas (Teekay Tankers Ltd. | NYSE:TNK)

Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.

Teekay Tankers Ltd. trades on the NYSE stock market under the symbol TNK.

As of April 24, 2024, TNK stock price climbed to $56.60 with 242,809 million shares trading.

TNK has a beta of -0.18, meaning it tends to be less sensitive to market movements. TNK has a correlation of 0.00 to the broad based SPY ETF.

TNK has a market cap of $1.94 billion. This is considered a Small Cap stock.

Last quarter Teekay Tankers Ltd. reported $313 million in Revenue and $2.91 earnings per share. This beat revenue expectation by $78 million and missed earnings estimates by -$.56.

In the last 3 years, TNK stock traded as high as $64.42 and as low as $9.89.

The top ETF exchange traded funds that TNK belongs to (by Net Assets): IWM, AVUV, DFAT, IWN, BSVO.

TNK has outperformed the market in the last year with a price return of +48.5% while the SPY ETF gained +24.2%. However, in the short term, TNK had mixed performance relative to the market. It has underperformed in the last 3 months, returning -1.9% vs +4.6% return in SPY. But in the last 2 weeks, TNK shares have fared better than the market returning +1.8% compared to SPY -2.7%.

TNK support price is $55.26 and resistance is $57.68 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TNK stock will trade within this expected range on the day.