Teekay Tankers Ltd. (NYSE:TNK)’s share price was up 7% during trading on Thursday . The stock traded as high as $1.53 and last traded at $1.52. Approximately 1,810,568 shares traded hands during trading, an increase of 42% from the average daily volume of 1,276,840 shares. The stock had previously closed at $1.42.

Several equities analysts have recently commented on TNK shares. Zacks Investment Research cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine cut shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of Teekay Tankers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. TheStreet cut shares of Teekay Tankers from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. Finally, Bank of America Corporation reduced their price target on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a research report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $1.60.

The company has a quick ratio of 0.80, a current ratio of 0.67 and a debt-to-equity ratio of 0.73.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The business had revenue of $91.20 million for the quarter, compared to analysts’ expectations of $68.67 million. During the same quarter last year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. analysts forecast that Teekay Tankers Ltd. will post -0.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Monday, November 20th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.12 dividend on an annualized basis and a yield of 7.89%. Teekay Tankers’s dividend payout ratio is currently -63.16%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Huber Capital Management LLC lifted its holdings in Teekay Tankers by 12.4% in the second quarter. Huber Capital Management LLC now owns 14,563,834 shares of the shipping company’s stock worth $27,380,000 after acquiring an additional 1,602,809 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Teekay Tankers by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,215,008 shares of the shipping company’s stock worth $11,684,000 after acquiring an additional 325,871 shares during the last quarter. Northern Trust Corp lifted its holdings in Teekay Tankers by 75.7% in the second quarter. Northern Trust Corp now owns 3,096,347 shares of the shipping company’s stock worth $5,821,000 after acquiring an additional 1,334,417 shares during the last quarter. State Street Corp lifted its holdings in Teekay Tankers by 9.6% in the second quarter. State Street Corp now owns 1,952,507 shares of the shipping company’s stock worth $3,671,000 after acquiring an additional 170,377 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Teekay Tankers by 10.2% in the second quarter. Schroder Investment Management Group now owns 1,317,500 shares of the shipping company’s stock worth $2,491,000 after acquiring an additional 122,100 shares during the last quarter. 39.58% of the stock is currently owned by hedge funds and other institutional investors.

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Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.

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