Teekay Tankers (NYSE:TNK) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Teekay Tankers Ltd. (NYSE:TNK) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.48 and traded as high as $61.47. Teekay Tankers shares last traded at $60.16, with a volume of 635,328 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TNK. Clarkson Capital raised shares of Teekay Tankers to a “strong-buy” rating in a research report on Wednesday, October 8th. Evercore ISI upped their target price on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group increased their target price on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $65.00.

Teekay Tankers Trading Up 1.2%

The firm’s fifty day simple moving average is $57.00 and its 200 day simple moving average is $52.60. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 6.76 and a beta of -0.25.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. The business had revenue of $229.02 million for the quarter, compared to analyst estimates of $133.65 million. Teekay Tankers had a net margin of 32.87% and a return on equity of 10.63%. The company’s revenue was down 16.5% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. As a group, sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Monday, November 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, November 10th. Teekay Tankers’s payout ratio is 11.11%.

Institutional Investors Weigh In On Teekay Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in shares of Teekay Tankers by 4.1% during the second quarter. Franklin Resources Inc. now owns 122,728 shares of the shipping company’s stock worth $5,120,000 after purchasing an additional 4,830 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Teekay Tankers by 89.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 24,693 shares of the shipping company’s stock worth $1,030,000 after buying an additional 11,675 shares during the last quarter. CWM LLC increased its position in Teekay Tankers by 124.2% during the second quarter. CWM LLC now owns 7,803 shares of the shipping company’s stock worth $326,000 after buying an additional 4,323 shares during the period. American Century Companies Inc. increased its position in Teekay Tankers by 7.5% during the second quarter. American Century Companies Inc. now owns 1,010,177 shares of the shipping company’s stock worth $42,145,000 after buying an additional 70,578 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Teekay Tankers by 4.0% in the second quarter. Geode Capital Management LLC now owns 361,609 shares of the shipping company’s stock valued at $15,086,000 after buying an additional 14,052 shares during 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.