Teekay Tankers Ltd. (NYSE:TNK) Given Average Rating of “Moderate Buy” by Analysts

Teekay Tankers Ltd. (NYSE:TNK) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $78.00.

Several analysts have recently weighed in on the company. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Evercore restated an “outperform” rating and issued a $86.00 price objective on shares of Teekay Tankers in a report on Friday. Wall Street Zen upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Dnb Carnegie lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th.

Institutional Investors Weigh In On Teekay Tankers

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Teekay Tankers by 10.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock valued at $98,000 after purchasing an additional 172 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Teekay Tankers by 1.5% during the fourth quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock valued at $621,000 after purchasing an additional 176 shares during the last quarter. Glenorchy Capital Ltd lifted its holdings in shares of Teekay Tankers by 0.5% during the fourth quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock valued at $1,973,000 after purchasing an additional 198 shares during the last quarter. Boothbay Fund Management LLC lifted its holdings in shares of Teekay Tankers by 1.4% during the fourth quarter. Boothbay Fund Management LLC now owns 15,172 shares of the shipping company’s stock valued at $810,000 after purchasing an additional 214 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Teekay Tankers by 2.4% during the fourth quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock valued at $490,000 after purchasing an additional 216 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Stock Performance

NYSE:TNK opened at $77.14 on Monday. Teekay Tankers has a 1 year low of $41.05 and a 1 year high of $83.99. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 6.27 and a beta of -0.21. The business has a fifty day moving average of $74.15 and a 200-day moving average of $65.90.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. The company had revenue of $286.09 million during the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. On average, equities research analysts predict that Teekay Tankers will post 7.3 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Teekay Tankers’s dividend payout ratio is 8.13%.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.