Brokerages Set Teekay Tankers Ltd. (NYSE:TNK) PT at $80.00

Shares of Teekay Tankers Ltd. (NYSE:TNK) have received an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $80.00.

Several research firms recently commented on TNK. Wall Street Zen raised Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research note on Friday, March 27th. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Evercore reissued an “outperform” rating and issued a $90.00 price objective on shares of Teekay Tankers in a research note on Tuesday, April 21st. Finally, Zacks Research downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $77.74 on Monday. Teekay Tankers has a 1 year low of $41.05 and a 1 year high of $83.99. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 7.70 and a beta of -0.21. The business’s 50 day moving average price is $74.12 and its 200-day moving average price is $65.64.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The firm had revenue of $286.09 million for the quarter. On average, sell-side analysts expect that Teekay Tankers will post 7.3 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, March 2nd. Teekay Tankers’s dividend payout ratio is currently 9.91%.

Institutional Trading of Teekay Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Teekay Tankers in the 4th quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Teekay Tankers in the 4th quarter worth $33,000. Global Trust Asset Management LLC purchased a new position in shares of Teekay Tankers during the 1st quarter worth $46,000. Leonteq Securities AG purchased a new position in shares of Teekay Tankers during the 4th quarter worth $34,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Teekay Tankers by 2,948.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock worth $57,000 after purchasing an additional 1,032 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

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.