Teekay Tankers (NYSE:TNK) Shares Down 3.3% – What’s Next?

Teekay Tankers Ltd. (NYSE:TNK)’s stock price traded down 3.3% during trading on Tuesday . The company traded as low as $37.03 and last traded at $36.33. 14,715 shares were traded during mid-day trading, a decline of 96% from the average session volume of 361,421 shares. The stock had previously closed at $37.55.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Teekay Tankers has an average rating of “Moderate Buy” and an average price target of $62.00.

Teekay Tankers Stock Down 1.7 %

The stock has a fifty day moving average of $38.84 and a 200-day moving average of $43.30. The firm has a market capitalization of $1.22 billion, a P/E ratio of 3.15 and a beta of -0.16.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The company had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. As a group, analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Institutional Investors Weigh In On Teekay Tankers

Several institutional investors have recently bought and sold shares of TNK. R Squared Ltd bought a new position in shares of Teekay Tankers during the 4th quarter worth approximately $41,000. Meeder Asset Management Inc. bought a new position in Teekay Tankers in the fourth quarter valued at $77,000. New Age Alpha Advisors LLC bought a new position in Teekay Tankers in the fourth quarter valued at $132,000. BNP Paribas Financial Markets acquired a new stake in Teekay Tankers in the 4th quarter valued at $143,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after buying an additional 286 shares in the last quarter. Institutional investors own 52.67% of the company’s stock.

About Teekay Tankers

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.