Shares of Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $77.00.
Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Evercore reissued an “outperform” rating and set a $86.00 target price on shares of Teekay Tankers in a research report on Friday, May 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research report on Wednesday, June 24th. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Bank of America raised their price target on Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a report on Wednesday, May 20th.
Check Out Our Latest Research Report on Teekay Tankers
Teekay Tankers Trading Up 0.0%
Teekay Tankers (NYSE:TNK – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. On average, research analysts forecast that Teekay Tankers will post 13.75 earnings per share for the current year.
Teekay Tankers Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. Teekay Tankers’s payout ratio is presently 8.13%.
Insiders Place Their Bets
In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $71.53, for a total transaction of $502,927.43. Following the transaction, the director owned 7,445 shares in the company, valued at approximately $532,540.85. The trade was a 48.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Teekay Tankers by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock worth $98,000 after acquiring an additional 172 shares in the last quarter. CWA Asset Management Group LLC boosted its position in shares of Teekay Tankers by 1.5% during the 4th quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock worth $621,000 after purchasing an additional 176 shares in the last quarter. Glenorchy Capital Ltd grew its stake in shares of Teekay Tankers by 0.5% during the 4th quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock worth $1,973,000 after purchasing an additional 198 shares during the period. Boothbay Fund Management LLC grew its stake in shares of Teekay Tankers by 1.4% during the 4th quarter. Boothbay Fund Management LLC now owns 15,172 shares of the shipping company’s stock worth $810,000 after purchasing an additional 214 shares during the period. Finally, CWM LLC increased its holdings in shares of Teekay Tankers by 2.4% in the 4th quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock valued at $490,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds 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.
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