BofA raises Teekay Tankers stock price target on strong earnings

TEEKAY TANKERS LTD. (TNK) furnished an SEC Form 6-K — earnings release. Item 1 — Information Contained in this Form 6-K Report Attached as Exhibit 1 is a copy of an announcement of Teekay Tankers Ltd. dated November 11, 2026. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to b

Teekay Tankers reported Q3 Non-GAAP EPS of $5.04, exceeding estimates by $0.55, with revenue of $369.2M, up 61.2% year-over-year and beating forecasts by $105.74M. The company attributes the growth to strong cash generation.

Teekay Tankers (TNK) reported Q3 EPS of $5.04, beating estimates by $0.21, but revenue of $239.37M missed expectations. The stock is up 4.50% in 3 months and 43.90% in 12 months. InvestingPro rates its financial health as 'great performance'.

Bermuda's re/insurers rose (e.g., White Mountains +3.8%, Pelagos +4.9%) while shipping companies fell (e.g., Teekay -4.9%, Nordic American -5%) following US mid-term election results. S&P 500 and Dow Jones gained 1.6% and 3% respectively, while Treasury yields and oil prices dropped.

Teekay Tankers (TNK) stock fell 2.9% after rising 14% in September. The increase was driven by a surge in tanker charter rates, which reached $1M/day. The decline follows Iran's offer to reopen the Strait of Hormuz, potentially easing tanker demand. TNK has a market cap of $3.4B.

Teekay Tankers (TNK) reported Q2 2026 GAAP net income of $226 million, or $6.49/share, and adjusted net income of $194 million, or $5.56/share, up 50% QoQ, citing record tanker spot rates. It generated about $200 million free cash flow, held over $1.2 billion cash, and had zero debt. Management discussed fleet renewal, dividend talks, and geopolitical risks affecting routes.