Teekay Tankers traded at $70.28 this Thursday June 25th, decreasing $6.06 or 7.94 percent since the previous trading session. Looking back, over the last four weeks, Teekay Tankers lost 6.94 percent. Over the last 12 months, its price rose by 61.60 percent. Looking ahead, we forecast Teekay Tankers to be priced at 71.20 by the end of this quarter and at 62.26 in one year, according to Trading Economics global macro models projections and analysts expectations.
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company's business is to own crude oil and product tankers. 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, including those employed on full service lightering contracts. Its ship-to-ship transfer segment consists of its lightering support services, including those provided to the Company's conventional tanker segment as part of full service lightering operations and other related services. Its operations are managed by Teekay Tankers Management Services Ltd., which provides the Company with commercial, technical, administrative and strategic services. Its fleet consists of approximately 60 conventional vessels (including over 10 in-chartered vessels and an approximately 50%-owned very large crude carrier (VLCC)) and approximately six ship-to-ship (STS) support vessels.