Teekay Tankers Ltd. (TNK) shares reached a new 52-week high of $84.24. The stock climbed 16.3% over the past month. Year-to-date gains reached 56.4%, significantly outperforming the broader transportation sector.
Analysts attribute the rally to four consecutive quarters of positive earnings surprises. Recent second-quarter results featured record tanker rates. The company also reported robust cash flow for the period.