Teekay Tankers (NYSE:TNK) Trading 4.1% Higher

Teekay Tankers Ltd. (NYSE:TNK) shot up 4.1% during trading on Thursday . The company traded as high as $59.19 and last traded at $58.65. 58,849 shares changed hands during trading, a decline of 87% from the average session volume of 454,209 shares. The stock had previously closed at $56.36.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Evercore ISI decreased their target price on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. StockNews.com raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group restated a “buy” rating and set a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd. Finally, Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $72.00 in a research note on Friday, January 19th.

Teekay Tankers Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02. The business’s 50-day moving average price is $56.67 and its two-hundred day moving average price is $52.48. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 3.88, a P/E/G ratio of 1.37 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). The company had revenue of $194.46 million for the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. On average, research analysts forecast that Teekay Tankers Ltd. will post 14.28 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers’s dividend payout ratio is currently 6.73%.

Institutional Investors Weigh In On Teekay Tankers

A number of institutional investors have recently made changes to their positions in TNK. CWM LLC boosted its holdings in Teekay Tankers by 10,816.7% in the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after purchasing an additional 649 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $35,000. Tucker Asset Management LLC acquired a new position in shares of Teekay Tankers in the 4th quarter valued at about $38,000. FMR LLC grew its position in shares of Teekay Tankers by 41.9% during the 1st quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock valued at $44,000 after buying an additional 301 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Teekay Tankers during the fourth quarter worth about $46,000. 52.67% of the stock is currently owned by institutional investors.

About Teekay Tankers

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.