Teekay Tankers Ltd. (TNK) Soars 7.2%

Teekay Tankers Ltd. (TNK) Soars 7.2%

Teekay Tankers Ltd. (TNK) had a good day on the market for Thursday October 03 as shares jumped 7.2% to close at $1.34. About 1.66 million shares traded hands on 5,594 trades for the day, compared with an average daily volume of n/a shares out of a total float of 269 million. After opening the trading day at $1.25, shares of Teekay Tankers Ltd. stayed within a range of $1.35 to $1.25.

With today’s gains, Teekay Tankers Ltd. now has a market cap of $360.46 million. Shares of Teekay Tankers Ltd. have been trading within a range of $1.42 and $0.87 over the last year, and it had a 50-day SMA of $n/a and a 200-day SMA of $n/a.

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. Its business is to own oil tankers and it employs a chartering strategy that seeks to capture upside opportunities in the tanker spot market while using fixed-rate time charters to reduce downside risks. The company has two segments, conventional tanker, and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers and generates the majority of the company’s revenue.

Teekay Tankers Ltd. is based out of Hamilton, and has some 2,100 employees. Its CEO is Kevin Mackay.

Teekay Tankers Ltd. is also a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It’s maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell’s indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It’s a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

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