When a company such as Teekay Tankers conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the TNK split history from start to finish, an original position size of 1000 shares would have turned into 125 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Teekay Tankers shares, starting with a $10,000 purchase of TNK, presented on a split-history-adjusted basis factoring in the complete TNK split history.

About Teekay Tankers

Teekay Tankers Ltd. is a Bermuda-based company. Co. is a provider of marine transportation to global oil industries. Co. is engaged in the business of owning and operating crude oil and product tankers. It provides vessel operation services for various vessels under the contracts with the Australian Government. Co. also provide ship-to-ship (STS) support services, along with tanker commercial management, and technical management operations. Co. owns a fleet of approximately 43 double-hull tankers, including 25 Supermax tankers,18 Aframax / long range two (LR2) tankers. Co. also owns a crude carrier (VLCC) through a 50% owned joint venture. According to our TNK split history records, Teekay Tankers has had 1 split.

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