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

Shares of Teekay Tankers Ltd. (NYSE:TNK) have been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $50.6667.

TNK has been the subject of a number of recent research reports. Zacks Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st.

Institutional Trading of Teekay Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNK. Price T Rowe Associates Inc. MD raised its holdings in Teekay Tankers by 21.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,524 shares of the shipping company’s stock worth $379,000 after purchasing an additional 1,674 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Teekay Tankers during the fourth quarter worth approximately $283,000. Northern Trust Corp raised its holdings in Teekay Tankers by 1.5% during the fourth quarter. Northern Trust Corp now owns 247,898 shares of the shipping company’s stock worth $9,864,000 after purchasing an additional 3,776 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Teekay Tankers by 52.3% during the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company’s stock worth $6,574,000 after purchasing an additional 56,737 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Teekay Tankers during the fourth quarter worth approximately $143,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

NYSE TNK opened at $52.26 on Wednesday. The firm has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $42.93. The firm has a market cap of $1.79 billion and a price-to-earnings ratio of 6.49. Teekay Tankers has a one year low of $33.35 and a one year high of $62.45.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.The firm had revenue of $154.23 million during the quarter, compared to analysts’ expectations of $162.67 million. During the same quarter in the prior year, the firm earned $3.11 EPS. Equities analysts predict that Teekay Tankers will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a $0.25 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Teekay Tankers’s payout ratio is currently 12.42%.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.