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

Shares of Teekay Tankers Ltd. (NYSE:TNK) have been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $77.00.

A number of research firms have weighed in on TNK. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Wall Street Zen lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Finally, Evercore reiterated an “outperform” rating and set a $84.00 price objective on shares of Teekay Tankers in a report on Friday, February 20th.

Teekay Tankers Stock Performance

TNK opened at $70.68 on Friday. The stock’s 50 day moving average price is $68.42 and its 200-day moving average price is $60.12. Teekay Tankers has a one year low of $33.35 and a one year high of $82.24. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 7.00 and a beta of -0.32.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.09. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The firm had revenue of $158.78 million during the quarter, compared to analyst estimates of $179.70 million. During the same period last year, the company earned $1.50 EPS. Teekay Tankers’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Teekay Tankers’s dividend payout ratio (DPR) is 9.91%.

Institutional Trading of Teekay Tankers

Large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Teekay Tankers by 107.2% during the 1st quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company’s stock worth $3,200,000 after purchasing an additional 43,258 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Teekay Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock worth $546,000 after buying an additional 610 shares during the period. Millennium Management LLC lifted its holdings in shares of Teekay Tankers by 24.9% in the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after buying an additional 50,815 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Teekay Tankers by 70.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,684 shares of the shipping company’s stock worth $738,000 after buying an additional 7,313 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Teekay Tankers during the 2nd quarter worth $206,000. 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.