Teekay Tankers Ltd. (NYSE:TNK) Receives Average Rating of “Buy” from Brokerages

Teekay Tankers Ltd. (NYSE:TNK) has been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $77.00.

TNK has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. DNB Markets lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Dnb Carnegie downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th.

Teekay Tankers Stock Down 1.3%

Shares of NYSE:TNK opened at $67.18 on Friday. The business has a fifty day moving average of $67.57 and a two-hundred day moving average of $59.63. The stock has a market cap of $2.32 billion, a P/E ratio of 6.66 and a beta of -0.32. Teekay Tankers has a 52-week low of $33.35 and a 52-week high of $82.24.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $1.50 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts anticipate that Teekay Tankers will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.00 annualized dividend and a yield of 1.5%. Teekay Tankers’s dividend payout ratio (DPR) is 9.91%.

Hedge Funds Weigh In On Teekay Tankers

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Teekay Tankers by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,835,312 shares of the shipping company’s stock worth $98,042,000 after purchasing an additional 36,199 shares during the period. American Century Companies Inc. lifted its position in Teekay Tankers by 6.7% in the third quarter. American Century Companies Inc. now owns 1,077,363 shares of the shipping company’s stock valued at $54,461,000 after buying an additional 67,186 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Teekay Tankers by 24.6% in the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock valued at $28,903,000 after buying an additional 136,990 shares during the last quarter. Summit Street Capital Management LLC boosted its stake in Teekay Tankers by 14.4% during the third quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock worth $25,360,000 after buying an additional 63,125 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Teekay Tankers by 6.1% during the fourth quarter. JPMorgan Chase & Co. now owns 417,483 shares of the shipping company’s stock valued at $22,302,000 after acquiring an additional 24,024 shares during the last quarter. 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.