Teekay Tankers Ltd. (NYSE:TNK)’s share price was down 5.2% during mid-day trading on Thursday . The stock traded as low as $1.46 and last traded at $1.47. Approximately 1,759,952 shares changed hands during trading, an increase of 31% from the average daily volume of 1,341,688 shares. The stock had previously closed at $1.55.

Several equities analysts have issued reports on TNK shares. Zacks Investment Research raised shares of Teekay Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Bank of America decreased their price objective on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Teekay Tankers currently has an average rating of “Sell” and a consensus target price of $1.60.

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

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 revenue was down 16.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. analysts expect 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 issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 8.16%. The ex-dividend date was Friday, November 17th. Teekay Tankers’s payout ratio is -42.86%.

A number of institutional investors and hedge funds have recently bought and sold shares of TNK. Cubist Systematic Strategies LLC raised its position in shares of Teekay Tankers by 21.8% in the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after buying an additional 9,526 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Teekay Tankers by 26.3% in the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after buying an additional 13,167 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Teekay Tankers by 10.4% in the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after buying an additional 7,500 shares during the last quarter. Loews Corp raised its position in shares of Teekay Tankers by 17.6% in the second quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock valued at $165,000 after buying an additional 13,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Teekay Tankers by 16.6% in the second quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock valued at $202,000 after buying an additional 15,304 shares during the last quarter. 35.91% 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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