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

Shares of Teekay Tankers Ltd. (NYSE:TNK) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $78.00.

TNK has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research note on Friday, March 27th. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Wall Street Zen upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Evercore restated an “outperform” rating and set a $86.00 target price on shares of Teekay Tankers in a research note on Friday.

Teekay Tankers Stock Performance

TNK opened at $77.14 on Monday. The stock has a market capitalization of $2.67 billion, a PE ratio of 6.27 and a beta of -0.21. Teekay Tankers has a one year low of $41.05 and a one year high of $83.99. The business’s 50 day moving average price is $74.15 and its 200 day moving average price is $65.85.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. The firm had revenue of $286.09 million for the quarter. Teekay Tankers had a return on equity of 16.86% and a net margin of 42.60%. As a group, equities research analysts forecast that Teekay Tankers will post 7.3 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Teekay Tankers’s dividend payout ratio is currently 9.91%.

Institutional Trading of Teekay Tankers

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Teekay Tankers in the fourth quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Teekay Tankers during the 4th quarter valued at $33,000. Leonteq Securities AG acquired a new stake in shares of Teekay Tankers during the 4th quarter worth $34,000. Global Trust Asset Management LLC acquired a new position in Teekay Tankers in the first quarter valued at $46,000. Finally, State of Alaska Department of Revenue purchased a new stake in Teekay Tankers during the third quarter valued at about $54,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Company Profile

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.