Teekay Tankers Stock (NYSE:TNK), Trade Ideas

Teekay Tankers

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.

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Spectrum Brands Posts Upbeat Results, Joins AerSale, Sinclair, ICU Medical And Other Big Stocks Moving Higher On Thursday

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U.S. stocks traded higher, with the Dow Jones index gaining around 40 points on Tuesday.

Here are some big stocks recording losses in today’s session.

Marathon Digital, Canaan, CleanSpark And Other Big Stocks Moving Lower On Tuesday

Short Ideas

HAMMERHEAD ENERGY INC A by Hammerhead Energy Inc.

HHRS

As of Nov. 15, 2023, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Top 3 Energy Stocks That May Implode In Q4

Teekay Tankers Ltd

Tanke Inc

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) in the last three months.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Teekay Tankers and provided 12-month price targets. The average target is $74.5, accompanied by a high estimate of $79.00 and a low estimate of $70.00. This upward trend is evident, with the current average reflecting a 4.93% increase from the previous average price target of $71.00.
<img src="https://www.benzinga.com/files/images/story/2024/1715346009_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The perception of Teekay Tankers by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ken Hoexter</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$79.00</td>
<td>$66.00</td>
</tr>
<tr>
<td>Omar Nokta</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$76.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Jonathan Chappell</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$73.00</td>
<td>$77.00</td>
</tr>
<tr>
<td>Omar Nokta</td>
<td>Jefferies</td>
<td>Maintains</td>
<td>Buy</td>
<td>$70.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Teekay Tankers. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Teekay Tankers compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Teekay Tankers's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Teekay Tankers's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/TNK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Teekay Tankers analyst ratings.</a>
<h2>Get to Know Teekay Tankers Better</h2>
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.
<h3>Unraveling the Financial Story of Teekay Tankers</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Negative Revenue Trend: Examining Teekay Tankers's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -14.71% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: Teekay Tankers's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 35.65%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Teekay Tankers's ROE stands out, surpassing industry averages. With an impressive ROE of 7.58%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Teekay Tankers's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.13% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Teekay Tankers's debt-to-equity ratio is below the industry average. With a ratio of 0.14, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

4 Analysts Assess Teekay Tankers: What You Need To Know

B of A Securities analyst Ken Hoexter maintains Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) with a Buy and raises the price target from $66 to $79.

Price Target

B of A Securities Maintains Buy on Teekay Tankers, Raises Price Target to $79

WIIM

Shares of companies in the Oil and Gas sector are trading higher amid a rise in the price of crude. Also, strength may be attributed to a year-over-year increase in China's April crude oil imports data.

U.S. stocks were mixed, with the Dow Jones gaining around 100 points on Thursday.
Shares of Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) rose sharply during Thursday's session <a href="https://www.benzinga.com/quote/SPB/earnings">following upbeat earnings</a>.
Spectrum Brands posted adjusted earnings of $1.62 per share, beating expectations of 62 cents per share. The company's quarterly sales came in at $718.50 million versus estimates of $707.52 million, according to data from<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro</a>.
Spectrum Brands shares surged 12.4% to $95.00 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Sezzle Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) shares climbed 69.9% to $75.99 after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) shares rose 40.1% to $14.39 after the company reported upbeat second-quarter results and raised FY24 guidance.</li>
<li>Consensus Cloud Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSI#NASDAQ">CCSI</a>) gained 30.6% to $17.28 following better-than-expected first-quarter results.</li>
<li>Vital Farms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VITL#NASDAQ">VITL</a>) shares rose 29.8% to $38.83 after the company reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates.</li>
<li>SiTime Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SITM#NASDAQ">SITM</a>) gained 25.6% to $121.82 following upbeat quarterly results.</li>
<li>Blue Bird Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBD#NASDAQ">BLBD</a>) jumped 25.5% to $47.18 after the company reported better-than-expected second-quarter financial results.</li>
<li>PlayAGS, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGS#NYSE">AGS</a>) surged 24.5% to $11.16 as the company agreed to be acquired by Brightstar Capital Partners for approximately $1.1 billion.</li>
<li>AerSale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASLE#NASDAQ">ASLE</a>) rose 20.3% to $9.08 following upbeat quarterly earnings.</li>
<li>Zai Lab Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) gained 19.7% to $19.83 after the company reported better-than-expected first-quarter financial results.</li>
<li>Warby Parker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRBY#NYSE">WRBY</a>) gained 19.5% to $14.87 after the company reported a year-over-year increase in first-quarter GAAP EPS results and better-than-expected sales results. Also, the company raised its FY24 net revenue guidance.</li>
<li>Sinclair, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBGI#NASDAQ">SBGI</a>) surged 17.8% to $15.65 following quarterly results.</li>
<li>BigCommerce Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIGC#NASDAQ">BIGC</a>) rose 15.7% to $7.74 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance.</li>
<li>ZimVie Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZIMV#NASDAQ">ZIMV</a>) rose 15.7% to $17.79 following first-quarter earnings. The company also issued strong FY24 EPS guidance.</li>
<li>Pagaya Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGY#NASDAQ">PGY</a>) jumped 15.2% to $12.10 following strong quarterly resulys.</li>
<li>Magnite, Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) shares surged 14.6% to $10.20 after the company reported first-quarter financial results.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) shares gained 14.5% to $3.7550 after posting first-quarter results.</li>
<li>Klaviyo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVYO#NYSE">KVYO</a>) shares gained 13.1% to $24.35 after the company reported better-than-expected first-quarter financial results.</li>
<li>Equinix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) gained 12.7% to $780.98 following first-quarter earnings.</li>
<li>Playtika Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTK#NASDAQ">PLTK</a>) rose 12.5% to $8.72 following strong quarterly sales.</li>
<li>Camtek Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAMT#NASDAQ">CAMT</a>) jumped 12.2% to $94.73 after the company reported a first-quarter beat and issued second-quarter guidance above estimates.</li>
<li>YETI Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YETI#NYSE">YETI</a>) surged 11.6% to $38.85 following better-than-expected first-quarter financial results.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) gained 10.4% to $81.69 after the company reported better-than-expected first-quarter financial results.</li>
<li>Primo Water Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRMW#NASDAQ">PRMW</a>) rose 9.4% to $22.00 following upbeat quarterly results.</li>
<li>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>) gained 9.1% to $20.32 following strong quarterly results.</li>
<li>Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>) surged 8.5% to $5.33 following upbeat sales.</li>
<li>HUTCHMED (China) Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCM#NASDAQ">HCM</a>) gained 8.1% to $21.06.</li>
<li>Jackson Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JXN#NYSE">JXN</a>) gained 7.3% to $78.76 following a first-quarter earnings beat.</li>
<li>ICU Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICUI#NASDAQ">ICUI</a>) gained 6.5% to $107.17 following upbeat earnings.</li>
<li>Teekay Tankers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) rose 6.1% to $67.42 following better-than-expected earnings.</li>
<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) rose 5.8% to $16.57 after ESPN Bet on Wednesday was named the official sports betting sponsor of the PGA Championship through 2026.</li>
<li>US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) gained 4.6% to $54.77 following upbeat earnings.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/05/38730657/jim-cramer-says-buy-this-tech-stock-right-here-likes-cognex">Jim Cramer Says Buy This Tech Stock Right Here, Likes Cognex</a>

Jefferies analyst Omar Nokta maintains Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) with a Buy and raises the price target from $70 to $76.

Jefferies Maintains Buy on Teekay Tankers, Raises Price Target to $76

Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) reported quarterly earnings of $3.86 per share which beat the analyst consensus estimate of $3.73 by 3.49 percent. This is a 24.76 percent decrease over earnings of $5.13 per share from the same period last year. The company reported quarterly sales of $338.343 million which beat the analyst consensus estimate of $221.550 million by 52.72 percent. This is a 14.27 percent decrease over sales of $394.657 million the same period last year.

Earnings

Earnings Beats

Teekay Tankers Q1 2024 Adj EPS $3.86 Beats $3.73 Estimate, Sales $338.343M Beat $221.550M Estimate

Teekay Tankers shares are trading lower after the company reported mixed Q4 financial results.

Jefferies analyst Omar Nokta reiterates Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) with a Buy and maintains $70 price target.

Reiteration

Jefferies Reiterates Buy on Teekay Tankers, Maintains $70 Price Target

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ZEUS

Earnings Scheduled For February 22, 2024

Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) reported quarterly adjsuted earnings of $2.91 per share which missed the analyst consensus estimate of $3.47 by 16.14 percent. This is a 32.79 percent decrease over earnings of $4.33 per share from the same period last year. The company reported quarterly sales of $313.29 million which beat the analyst consensus estimate of $235.10 million by 33.26 percent. This is a 14.71 percent decrease over sales of $367.32 million the same period last year.

Teekay Tankers Q4 Adj. EPS $2.91 Misses $3.47 Estimate, Sales $313.29M Beat $235.10M Estimate

Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-22. Here's what investors need to know before the announcement.
Analysts estimate that Teekay Tankers will report an earnings per share (EPS) of $3.47. 
Teekay Tankers bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.14, which was followed by a 2.06% increase in the share price the next day.
Here's a look at Teekay Tankers's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.10</td>
<td>4.31</td>
<td>4.38</td>
<td>3.33</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.24</td>
<td>4.38</td>
<td>5.13</td>
<td>4.33</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.06%</td>
<td>-0.45%</td>
<td>-5.29%</td>
<td>2.36%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708538484_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Teekay Tankers were trading at $57.08 as of February 20. Over the last 52-week period, shares are up 38.0%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/TNK/earnings">To track all earnings releases for Teekay Tankers visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Teekay Tankers

B of A Securities analyst Ken Hoexter upgrades Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) from Neutral to Buy and raises the price target from $56 to $72.

Upgrades

B of A Securities Upgrades Teekay Tankers to Buy, Raises Price Target to $72

U.S. stocks traded higher, with the Dow Jones index gaining around 40 points on Tuesday.
Here are some big stocks recording losses in today&rsquo;s session.
<ul>
<li>ZIM Integrated Shipping Services Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zim#NYSE">ZIM</a>) shares fell 14.5% to $9.94.</li>
<li>Luther Burbank Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lbc#NASDAQ">LBC</a>) dipped 7.1% to $9.99.</li>
<li>Qurate Retail, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrteb#NASDAQ">QRTEB</a>) declined 5.9% to $6.17.</li>
<li>Teekay Tankers Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnk#NYSE">TNK</a>) fell 5.2% to $51.60.</li>
<li>Nordic American Tankers Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nat#NYSE">NAT</a>) declined 5.9% to $4.2711.</li>
<li>Lexeo Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lxeo#NASDAQ">LXEO</a>) fell 5.6% to $14.68.</li>
<li>Canaan Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/can#NASDAQ">CAN</a>) fell 4.6% to $3.0288 amid a decline in Bitcoin.</li>
<li>B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) fell 4.5% to $19.21.</li>
<li>CleanSpark, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clsk#NASDAQ">CLSK</a>) fell 4.5% to $11.36 amid a decline in Bitcoin.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) declined 3.1% to $25.87 amid a decline in Bitcoin.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36383533/sharps-technology-and-2-other-stocks-under-1-insiders-are-buying"> Sharps Technology And 2 Other Stocks Under $1 Insiders Are Buying</a>

<h3>What is a Value Stock?</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>The following stocks are considered to be notable value stocks in the energy sector:</h2>
<ol>
<li>KLX Energy Services Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLXE#NASDAQ">KLXE</a>) - P/E: 3.14</li>
<li>Eni (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) - P/E: 9.61</li>
<li>Vitesse Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTS#NYSE">VTS</a>) - P/E: 7.83</li>
<li>Profire Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIE#NASDAQ">PFIE</a>) - P/E: 9.84</li>
<li>Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) - P/E: 3.2</li>
</ol>
KLX Energy Services Hldgs has reported Q3 earnings per share at $0.51, which has decreased by 37.04% compared to Q2, which was 0.81. Eni has reported Q3 earnings per share at $1.18, which has decreased by 4.84% compared to Q2, which was 1.24. The company's most recent dividend yield sits at 3.31%, which has decreased by 0.15% from 3.46% last quarter. 
Vitesse Energy saw an increase in earnings per share from 0.35 in Q2 to $0.38 now. The company's most recent dividend yield sits at 8.44%, which has increased by 0.27% from 8.17% last quarter. 
Profire Energy saw a decrease in earnings per share from 0.06 in Q2 to $0.04 now. Most recently, Teekay Tankers reported earnings per share at $2.24, whereas in Q2 earnings per share sat at $4.38. The company's most recent dividend yield sits at 1.95%, which has decreased by 0.36% from 2.31% last quarter. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

KLXE

PFIE

5 Value Stocks To Watch In The Energy Sector

As of Nov. 15, 2023, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Teekay Tankers Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnk#NYSE">TNK</a>)</h3>
<ul>
<li>Teekay Tankers posted upbeat quarterly results. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/TNK">52-week high of $54.11. </a>.</li>
<li>RSI Value: 70.60</li>
<li>TNK Price Action: Shares of Teekay Tankers fell 1.3% to close at $52.09 on Tuesday.</li>
</ul>
<h3>Hammerhead Energy Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hhrs#NASDAQ">HHRS</a>)</h3>
<ul>
<li>During the third quarter, Hammerhead delivered record production. Scott Sobie, President and CEO of Hammerhead notes, &ldquo;Hammerhead has achieved record cost outcomes at the same time that new wells (North Karr 10-14) have materially exceeded our type curve assumptions.&rdquo; The company&rsquo;s <a href="https://www.benzinga.com/quote/HHRS"> stock has a 52-week high </a> of $39.30.</li>
<li>RSI Value: 70.08</li>
<li>HHRS Price Action: Shares of Hammerhead Energy gained 0.9% to close at $14.89 on Tuesday.</li>
</ul>
<h3>Ultrapar Participa&ccedil;&otilde;es S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ugp#NYSE">UGP</a>)</h3>
<ul>
<li>The company&rsquo;s stock jumped 25% over the past month. The company has a <a href="https://www.benzinga.com/quote/UGP"> 52-week high </a> of $4.98.</li>
<li>RSI Value: 71.46</li>
<li>UGP Price Action: Shares of Ultrapar Participa&ccedil;&otilde;es gained 3.5% to close at $4.97 on Tuesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/11/35797968/target-cisco-and-3-stocks-to-watch-heading-into-wednesday"> Target, Cisco And 3 Stocks To Watch Heading Into Wednesday </a>

Friday marks the last chance for investors to receive the next dividend payout from Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a quarterly dividend of 25 cents per share. On Monday, Teekay Tankers will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 25 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own TNK as of the end of Friday's session are eligible to receive the 25 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on November 27, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/stock//dividends">Click here</a> to find details on Teekay Tankers's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Dividends

Teekay Tankers: Dividend Insights

RDFN

REFR

REGN

ROCK

RYAN

SABR

SAMG

SBAC

SBUX

SHAK

SHEL

SHOP

SLQT

SMLP

SNDX

SPGI

SRCL

STEM

STGW

STRA

SWKS

TCPC

TEAM

TMST

TRGP

TRUP

TSLX

TTSH

TWIN

UDMY

UEIC

UNIT

VCTR

VIAV

VIRT

VRNA

VTLE

VXRT

WLDN

WLKP

XRAY

YELP

Earnings Scheduled For November 2, 2023

Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) reported quarterly earnings of $2.24 per share which beat the analyst consensus estimate of $2.10 by 6.67 percent. This is a 31.76 percent increase over earnings of $1.70 per share from the same period last year. The company reported quarterly sales of $285.86 million which beat the analyst consensus estimate of $183.57 million by 55.72 percent. This is a 2.32 percent increase over sales of $279.39 million the same period last year.

Teekay Tankers Q3 EPS $2.24 Beats $2.10 Estimate, Sales $285.86M Beat $183.57M Estimate

Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) is set to give its latest quarterly earnings report on Thursday, 2023-11-02. Here's what investors need to know before the announcement.
Analysts estimate that Teekay Tankers will report an earnings per share (EPS) of $2.10. 
Teekay Tankers bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.07, which was followed by a 0.45% drop in the share price the next day.
Here's a look at Teekay Tankers's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>4.31</td>
<td>4.38</td>
<td>3.33</td>
<td>1.69</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>4.38</td>
<td>5.13</td>
<td>4.33</td>
<td>1.70</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.45%</td>
<td>-5.29%</td>
<td>2.36%</td>
<td>3.8%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1698858077_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Teekay Tankers were trading at $49.7 as of October 31. Over the last 52-week period, shares are up 54.86%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/TNK/earnings">To track all earnings releases for Teekay Tankers visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Teekay Tankers's Earnings

First and foremost, my heart goes out to everyone affected by the conflict that erupted over the weekend.
As battles continue in Israel, the energy market has taken center stage among traders. Geopolitical events are challenging to navigate due to their fluid nature and unpredictability. Here&#39;s what you should note about the oil market:
Israel isn&#39;t a major oil producer. In fact, the U.S. Energy Information Administration (EIA) states that the country produces fewer than 6,000 barrels per day. They have two refineries with a combined capacity of almost 300,000 bpd, which is below their daily consumption. The current market threat centers on energy product transportation corridors. Tensions between Iran and Israel are at an all-time high, and Iran&#39;s potential involvement could significantly impact the region&#39;s energy markets.
Iran controls the Strait of Hormuz, a vital corridor through which an estimated 20-30% of global oil inventory passes. The EIA suggests that approximately 75% of this goes to Asian markets. While Lebanon, another party in this conflict, isn&#39;t a significant energy producer, their close ties with Iran pose risks to the energy markets in the region.
<img alt="" src="https://www.benzinga.com/files/u1547439/maps.png" style="height:401px; width:624px" />
From a market perspective, the focus should be on the price difference between Brent crude and West Texas Crude (WTI). WTI typically trades at a discount to Brent due to transportation costs. A narrowing spread between these oil products indicates increasing demand for WTI, aligning with rising export totals seen in recent EIA reports. If the current trend continues, the U.S. could reach record export numbers by year&#39;s end.
<img alt="" src="https://www.benzinga.com/files/u1547439/eia.png" style="height:416px; width:624px" />
The Russia/Ukraine conflict previously caused a shift in Europe&#39;s energy supply chain, with nations depending on Russian gas seeking alternative partnerships. This increase in demand for liquified natural gas (LNG) was beneficial for the expanding LNG industry in the U.S., one of the world&#39;s largest natural gas producers. A similar shift might occur due to the current conflict in Israel. With WTI prices nearing those of Brent, U.S. producers might boost production, anticipating potential changes in the Middle Eastern and Asian supply strategy. Monitor the Baker Hughes&#39; Rig Count report released on Fridays; an increase might indicate U.S. energy producers are gearing up for a unique opportunity.
<img alt="" src="https://www.benzinga.com/files/u1547439/spread.png" style="height:325px; width:624px" />
The saying goes, &quot;rising tides lift all boats,&quot; and this is evident in the current energy stock prices. With crude oil prices increasing over 3%, companies like Exxon Mobil (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) and Chevron (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) are rallying. However, these energy giants also face significant geopolitical risks. For instance, Chevron operates in potential conflict zones like the Arabian Gulf and off Egypt&#39;s coast. Yet, increased domestic production and export demand might benefit oil transportation companies like Teekay Tankers LTD (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnk#NYSE">TNK</a>) and Euronav NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eurn#NYSE">EURN</a>), who might raise rates in response to the geopolitical risk, boosting their revenue.
Proceed With Caution 
Trading around geopolitical events is tricky. The &quot;fog of war&quot; and the rise of social media can amplify misinformation, and algorithmic trading can intensify market volatility. Rely more on fundamental data during environments such as this one and be cautious of relying solely on technical analysis. Track producer positioning and announcements from energy companies. Escalations could spike energy prices, while de-escalation might have the opposite effect. Observing the price spreads between crude and brent, or between crude and gasoline, can offer clearer insights. Remember, the market always tries to find an equilibrium once all information is available.

General

EURN

Rising Tensions, Rising Oil: How Middle East Tensions Can Redefine Energy Markets

Teekay Tankers Q1 2024 Earnings Preview

Teekay Tankers Non-GAAP EPS of $3.86 beats by $0.16, revenue of $338.34M beats by $118.29M

Teekay Tankers declares $0.25 dividend; special cash dividend of $2 a share

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Teekay Tankers (NYSE:<a href="https://investorplace.com/stock-quotes/tnk-stock-quote/">TNK</a>) just reported results for the first quarter of 2024.<ul><li>Teekay Tankers reported earnings per share of $3.86. This was above the analyst estimate for EPS of $3.78.</li><li>The company reported revenue of $338.34 million.</li><li>This was 52.36% better than the analyst estimate for revenue of $222.07 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/tnk-stock-earnings-teekay-tankers-for-q1-of-2024/">TNK Stock Earnings: Teekay Tankers Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

TNK Stock Earnings: Teekay Tankers Beats EPS, Beats Revenue for Q1 2024

Teekay Tankers Ltd. 2024 Q1 - Results - Earnings Call Presentation

Teekay Tankers (TNK) has released an update. Teekay Tankers Ltd. reported a strong first quarter in 2024 with a GAAP net income of $144.8 million a...

Teekay Tankers Triumphs in Q1 with Soaring Profits

ACDC, TPL among major energy gainers; PFIE, VTNR among major losers

Teekay Tankers Ltd. (TNK) Q1 2024 Earnings Call Transcript

Companies in the Energy sector have received a lot of coverage today as analysts weigh in on Excelerate Energy, Inc. Class A (EE – Research Report)...

Analysts Offer Insights on Energy Companies: Excelerate Energy, Inc. Class A (EE), Williams Co (WMB) and Teekay Tankers (TNK)

Teekay Tankers (TNK) has released an update. Teekay Tankers Ltd. reported a net income of $144.8 million for the first quarter of 2024, a slight de...

Teekay Tankers Posts Solid Q1 2024 Earnings