Teekay Tankers Ltd. (NYSE:TNK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Teekay Tankers Ltd. (NYSE:TNK) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $80.00.

Several research firms have recently issued reports on TNK. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Evercore reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Teekay Tankers in a research note on Tuesday. Zacks Research downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research note on Friday, March 27th. Finally, Wall Street Zen raised Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $73.40 on Thursday. The business has a 50 day moving average of $72.62 and a 200-day moving average of $63.09. Teekay Tankers has a 1 year low of $38.01 and a 1 year high of $82.24. The company has a market capitalization of $2.54 billion, a P/E ratio of 7.27 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, February 19th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.09. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The company had revenue of $258.27 million during the quarter, compared to the consensus estimate of $179.70 million. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that Teekay Tankers will post 7.3 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Teekay Tankers’s dividend payout ratio is currently 9.91%.

Institutional Trading of Teekay Tankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Teekay Tankers by 56.9% during the 1st quarter. SG Americas Securities LLC now owns 18,251 shares of the shipping company’s stock valued at $1,338,000 after purchasing an additional 6,617 shares during the period. Rockefeller Capital Management L.P. increased its position in Teekay Tankers by 291.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 916 shares during the period. Fearnley Asset Management AS acquired a new stake in Teekay Tankers during the 4th quarter valued at approximately $17,890,000. Caitong International Asset Management Co. Ltd increased its position in Teekay Tankers by 217.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,401 shares of the shipping company’s stock valued at $75,000 after purchasing an additional 959 shares during the period. Finally, Vident Advisory LLC acquired a new stake in Teekay Tankers during the 4th quarter valued at approximately $718,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.