Teekay Tankers Ltd. (NYSE:TNK) Given Average Recommendation of “Buy” by Brokerages

Shares of Teekay Tankers Ltd. (NYSE:TNK) have received an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $77.00.

A number of research firms have recently commented on TNK. Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. DNB Markets downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Dnb Carnegie lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Jefferies Financial Group increased their price objective on Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th.

Hedge Funds Weigh In On Teekay Tankers

A number of hedge funds have recently bought and sold shares of TNK. Mirae Asset Global Investments Co. Ltd. bought a new stake in Teekay Tankers during the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Teekay Tankers in the 4th quarter worth about $33,000. Leonteq Securities AG acquired a new position in shares of Teekay Tankers in the 4th quarter valued at about $34,000. State of Alaska Department of Revenue bought a new stake in shares of Teekay Tankers during the 3rd quarter valued at about $54,000. Finally, Aster Capital Management DIFC Ltd grew its stake in Teekay Tankers by 2,948.6% during the fourth 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. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Shares of TNK opened at $73.83 on Wednesday. Teekay Tankers has a 52-week low of $33.35 and a 52-week high of $74.70. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 7.32 and a beta of -0.27. The business’s fifty day moving average is $61.55 and its 200-day moving average is $56.58.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Wednesday, February 18th. The shipping company reported $2.80 earnings per share for the quarter, topping 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 business had revenue of $158.78 million during the quarter, compared to the consensus estimate of $179.70 million. During the same period in the prior year, the company earned $1.50 EPS. Teekay Tankers’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts forecast that Teekay Tankers will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

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

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.