Teekay Tankers Ltd. (TNK) Stock Price Down 2.4%
Teekay Tankers Ltd. (NYSE:TNK) shares were down 2.4% on Thursday . The company traded as low as $2.79 and last traded at $2.79, with a volume of 1,471,954 shares changing hands. The stock had previously closed at $2.86.
A number of research analysts recently weighed in on TNK shares. Clarkson Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Teekay Tankers in a report on Thursday, May 19th. Seaport Global Securities initiated coverage on Teekay Tankers in a report on Wednesday, May 4th. They issued a “buy” rating and a $6.00 target price on the stock. Vetr lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price objective on the stock. in a research report on Wednesday, June 8th. Zacks Investment Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Stifel Nicolaus lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Teekay Tankers presently has an average rating of “Hold” and a consensus target price of $7.09.
The firm has a market cap of $434.26 million and a price-to-earnings ratio of 2.73. The stock has a 50 day moving average price of $3.00 and a 200 day moving average price of $3.61.
Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. During the same period last year, the firm earned $0.35 earnings per share. The firm had revenue of $139.62 million for the quarter, compared to analyst estimates of $131.06 million. Teekay Tankers’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities research analysts predict that Teekay Tankers Ltd. will post $0.84 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 8.63%. The ex-dividend date of this dividend is Thursday, August 11th.
An institutional investor recently raised its position in Teekay Tankers stock. California State Teachers Retirement System boosted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,185 shares of the company’s stock after buying an additional 3,121 shares during the period. California State Teachers Retirement System owned about 0.12% of Teekay Tankers worth $1,212,000 as of its most recent filing with the SEC.
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 owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Company’s chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers.
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