Teekay Tankers Ltd. (TNK) Trading 4.3% Higher
Teekay Tankers Ltd. (NYSE:TNK) traded up 4.3% on Thursday . The stock traded as high as $2.88 and last traded at $2.88, with a volume of 1,029,706 shares traded. The stock had previously closed at $2.76.
Several equities research analysts have weighed in on the company. Clarkson Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Teekay Tankers in a report on Thursday, May 19th. Danske reiterated a “sell” rating on shares of Teekay Tankers in a report on Monday, August 8th. Seaport Global Securities assumed coverage on Teekay Tankers in a report on Wednesday, May 4th. They issued a “buy” rating and a $6.00 price objective for the company. Bank of America Corp. cut Teekay Tankers from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $3.00 to $3.57 in a report on Friday, May 20th. Finally, Vetr cut Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price objective for the company. in a report on Wednesday, June 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.09.
The company has a market capitalization of $449.88 million and a price-to-earnings ratio of 2.83. The stock’s 50-day moving average price is $2.97 and its 200 day moving average price is $3.56.
Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $139.62 million for the quarter, compared to the consensus estimate of $131.06 million. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. On average, equities analysts forecast that Teekay Tankers Ltd. will post $0.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.24 annualized dividend and a yield of 8.33%.
A hedge fund recently raised its stake in Teekay Tankers stock. California State Teachers Retirement System boosted its stake in Teekay Tankers Ltd. (NYSE:TNK) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. 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 approximately 0.12% of Teekay Tankers worth $1,212,000 as of its most recent SEC filing.
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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