Teekay Tankers Ltd. (NYSE:TNK)’s share price shot up 4.3% during mid-day trading on Thursday . The stock traded as high as $2.88 and last traded at $2.88, with a volume of 1,029,706 shares trading hands. The stock had previously closed at $2.76.

Several research firms have recently issued reports on TNK. Seaport Global Securities began coverage on shares of Teekay Tankers in a research note on Wednesday, May 4th. They set a “buy” rating and a $6.00 price target for the company. Vetr downgraded shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 target price for the company. in a research note on Wednesday, June 8th. Bank of America Corp. downgraded shares of Teekay Tankers from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $3.00 to $3.57 in a research note on Friday, May 20th. DNB Markets downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Finally, Clarkson Capital reissued a “buy” rating and set a $12.00 target price on shares of Teekay Tankers in a research note on Thursday, May 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.09.

The firm has a market capitalization of $445.19 million and a PE ratio of 2.80. The stock’s 50-day moving average price is $2.96 and its 200 day moving average price is $3.55.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The business earned $139.62 million during the quarter, compared to analysts’ expectations of $131.06 million. Teekay Tankers’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, equities analysts anticipate that Teekay Tankers Ltd. will post $0.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 15th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.42%.

An institutional investor recently raised its position in Teekay Tankers stock. Wells Fargo & Company MN raised its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,323,732 shares of the company’s stock after buying an additional 294,393 shares during the period. Wells Fargo & Company MN owned approximately 0.87% of Teekay Tankers worth $9,107,000 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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