Teekay Tankers Ltd. (NYSE:TNK) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.35 and last traded at $1.48, with a volume of 13218500 shares. The stock had previously closed at $1.49.

TNK has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Bank of America decreased their target price on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a research note on Friday, November 10th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of “Sell” and an average price target of $1.60.

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. The business had revenue of $91.20 million for the quarter, compared to the consensus estimate of $68.67 million. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. equities analysts predict that Teekay Tankers Ltd. will post -0.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Monday, November 20th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date was Friday, November 17th. Teekay Tankers’s payout ratio is currently -42.86%.

A number of institutional investors have recently modified their holdings of TNK. Huber Capital Management LLC increased its position in Teekay Tankers by 12.4% during the 2nd quarter. Huber Capital Management LLC now owns 14,563,834 shares of the shipping company’s stock valued at $27,380,000 after purchasing an additional 1,602,809 shares during the period. Northern Trust Corp increased its position in Teekay Tankers by 75.7% during the 2nd quarter. Northern Trust Corp now owns 3,096,347 shares of the shipping company’s stock valued at $5,821,000 after purchasing an additional 1,334,417 shares during the period. First Eagle Investment Management LLC purchased a new position in Teekay Tankers during the 3rd quarter valued at $911,000. Macquarie Group Ltd. purchased a new position in Teekay Tankers during the 3rd quarter valued at $867,000. Finally, Chicago Equity Partners LLC purchased a new position in Teekay Tankers during the 3rd quarter valued at $842,000. 35.73% of the stock is currently owned by institutional investors and hedge funds.

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About Teekay Tankers

Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.

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