Teekay Tankers (NYSE:TNK) Shares Up 6.5% – What’s Next?

Teekay Tankers Ltd. (NYSE:TNK) shares were up 6.5% on Tuesday . The company traded as high as $42.67 and last traded at $42.50. Approximately 142,764 shares were traded during trading, a decline of 62% from the average daily volume of 378,193 shares. The stock had previously closed at $39.91.

Analyst Ratings Changes

Several research analysts have recently weighed in on TNK shares. Bank of America restated an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group decreased their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com started coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Teekay Tankers has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Teekay Tankers Trading Down 1.3 %

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 3.46, a PEG ratio of 1.13 and a beta of -0.40. The firm’s 50 day simple moving average is $41.34 and its two-hundred day simple moving average is $52.72.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Teekay Tankers’s payout ratio is 8.21%.

Institutional Investors Weigh In On Teekay Tankers

A number of large investors have recently added to or reduced their stakes in TNK. Custom Index Systems LLC lifted its position in shares of Teekay Tankers by 4.0% during the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after acquiring an additional 216 shares during the period. Sequoia Financial Advisors LLC lifted its position in Teekay Tankers by 5.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after purchasing an additional 277 shares during the period. Commonwealth Equity Services LLC lifted its position in Teekay Tankers by 8.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,013 shares of the shipping company’s stock worth $276,000 after purchasing an additional 323 shares during the period. CWM LLC grew its stake in Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after buying an additional 482 shares in the last quarter. Finally, U S Global Investors Inc. raised its position in shares of Teekay Tankers by 11.0% in the 3rd quarter. U S Global Investors Inc. now owns 4,897 shares of the shipping company’s stock valued at $285,000 after buying an additional 486 shares in the last quarter. Institutional investors and hedge funds 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.