Teekay Tankers Ltd. (NYSE:TNK) Receives $50.67 Average Target Price from Analysts

Shares of Teekay Tankers Ltd. (NYSE:TNK) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $50.6667.

TNK has been the subject of several recent research reports. Zacks Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st.

Teekay Tankers Stock Up 0.4%

Shares of NYSE:TNK opened at $52.15 on Wednesday. The company has a market cap of $1.79 billion and a PE ratio of 6.48. The company’s 50-day moving average price is $46.25 and its 200 day moving average price is $43.15. Teekay Tankers has a fifty-two week low of $33.35 and a fifty-two week high of $62.45.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The company had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. During the same period in the previous year, the business posted $3.11 EPS. As a group, equities analysts anticipate that Teekay Tankers will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 11th. Teekay Tankers’s dividend payout ratio (DPR) is 12.42%.

Institutional Investors Weigh In On Teekay Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Teekay Tankers by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock worth $38,000 after buying an additional 394 shares during the period. Blue Trust Inc. increased its position in shares of Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after purchasing an additional 568 shares during the period. TD Private Client Wealth LLC increased its position in shares of Teekay Tankers by 19.7% in the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock worth $71,000 after purchasing an additional 304 shares during the period. Osaic Holdings Inc. increased its position in shares of Teekay Tankers by 85.9% in the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock worth $101,000 after purchasing an additional 1,123 shares during the period. Finally, State of Wyoming bought a new position in shares of Teekay Tankers in the second quarter worth $129,000. 52.67% of the stock is owned by institutional investors and hedge funds.

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.