Teekay Tankers Ltd. (NYSE:TNK) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Teekay Tankers Ltd. (NYSE:TNK) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $77.00.

TNK has been the topic of several research reports. Wall Street Zen lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Evercore reissued an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Zacks Research lowered shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th.

Teekay Tankers Price Performance

NYSE TNK opened at $101.47 on Thursday. The business’s fifty day moving average is $93.90 and its 200-day moving average is $81.34. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 5.98 and a beta of -0.09. Teekay Tankers has a one year low of $49.17 and a one year high of $110.65.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, July 29th. The shipping company reported $5.56 earnings per share for the quarter, missing the consensus estimate of $5.61 by ($0.05). Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The company had revenue of $258.26 million for the quarter, compared to the consensus estimate of $299.03 million. During the same quarter in the previous year, the company posted $1.41 EPS. Teekay Tankers’s quarterly revenue was up 32.6% compared to the same quarter last year. Research analysts expect that Teekay Tankers will post 15.40 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 10th were paid a $0.25 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.00 annualized dividend and a yield of 1.0%. Teekay Tankers’s dividend payout ratio is presently 5.89%.

Insider Activity at Teekay Tankers

In other Teekay Tankers news, Director David Schellenberg sold 7,344 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $100.00, for a total transaction of $734,400.00. Following the completion of the transaction, the director directly owned 7,344 shares of the company’s stock, valued at approximately $734,400. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rohit (Rk2) Kapoor sold 6,375 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $89.28, for a total value of $569,160.00. Following the transaction, the director directly owned 2,126 shares of the company’s stock, valued at approximately $189,809.28. This trade represents a 74.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,561 shares of company stock worth $1,380,350. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. raised its position in shares of Teekay Tankers by 16.0% in the third quarter. Contravisory Investment Management Inc. now owns 4,417 shares of the shipping company’s stock valued at $429,000 after purchasing an additional 608 shares during the period. GAMMA Investing LLC lifted its stake in shares of Teekay Tankers by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,518 shares of the shipping company’s stock valued at $147,000 after buying an additional 188 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of Teekay Tankers by 1.4% during the 2nd quarter. Engineers Gate Manager LP now owns 55,028 shares of the shipping company’s stock valued at $3,570,000 after buying an additional 786 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Teekay Tankers in the 2nd quarter worth approximately $28,000. Finally, IFP Advisors Inc boosted its holdings in Teekay Tankers by 672.0% in the 2nd quarter. IFP Advisors Inc now owns 1,212 shares of the shipping company’s stock worth $79,000 after buying an additional 1,055 shares during the period. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company focused on the international shipment of crude oil and refined petroleum products. The company owns and operates a fleet of conventional and specialized tankers that transport energy commodities for oil companies, refiners, commodity traders and other customers.

Its fleet has included crude oil tankers in segments such as Aframax and Suezmax, as well as product tankers used to carry refined fuels. Teekay Tankers generates revenue through vessel chartering arrangements and commercial pool and voyage activities, serving routes across major global oil-trading regions.

Teekay Tankers was established in 2007 as part of the Teekay group and is affiliated with Teekay Corporation, a marine energy transportation company.