Teekay Tankers Ltd. (NYSE:TNK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Teekay Tankers Ltd. (NYSE:TNK) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $77.00.

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. DNB Markets cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Dnb Carnegie cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Evercore restated an “outperform” rating and set a $86.00 price target on shares of Teekay Tankers in a report on Friday, May 15th. Finally, Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st.

Teekay Tankers Price Performance

NYSE:TNK opened at $70.20 on Friday. The firm has a 50-day moving average of $75.64 and a 200-day moving average of $67.22. The company has a market cap of $2.43 billion, a PE ratio of 5.71 and a beta of -0.25. Teekay Tankers has a one year low of $41.05 and a one year high of $83.99.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. On average, equities research analysts expect that Teekay Tankers will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 annualized dividend and a yield of 1.4%. Teekay Tankers’s payout ratio is 8.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNK. Fearnley Asset Management AS purchased a new position in Teekay Tankers during the fourth quarter worth about $17,890,000. Mizuho Markets Americas LLC purchased a new position in Teekay Tankers in the first quarter valued at about $18,330,000. Arrowstreet Capital Limited Partnership boosted its stake in Teekay Tankers by 367.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock valued at $15,947,000 after acquiring an additional 170,940 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 136,990 shares during the last quarter. Finally, Man Group plc purchased a new position in Teekay Tankers in the fourth quarter valued at about $5,264,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

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.