Teekay Tankers’ (TNK) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Teekay Tankers (NYSE:TNK) in a research report report published on Thursday,Benzinga reports. The firm currently has a $55.00 target price on the shipping company’s stock.

Separately, Bank of America reiterated an “underperform” rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Stock Performance

Shares of NYSE:TNK opened at $40.38 on Thursday. Teekay Tankers has a fifty-two week low of $36.04 and a fifty-two week high of $74.20. The firm has a fifty day moving average price of $41.20 and a 200 day moving average price of $47.85. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 3.57 and a beta of -0.43.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.84%. The business had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. As a group, research analysts predict that Teekay Tankers will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Institutional Investors Weigh In On Teekay Tankers

Several institutional investors have recently made changes to their positions in the company. Custom Index Systems LLC lifted its holdings in shares of Teekay Tankers by 4.0% in the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock worth $329,000 after acquiring an additional 216 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Teekay Tankers by 5.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after acquiring an additional 277 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after acquiring an additional 286 shares during the last quarter. CWM LLC increased its stake in Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after buying an additional 482 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Teekay Tankers by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company’s stock worth $543,000 after buying an additional 494 shares during the period. Institutional investors own 52.67% of the company’s stock.

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.