Shares of Teekay Tankers Ltd. (NYSE:TNK) shot up 1.9% during mid-day trading on Tuesday . The company traded as high as $2.72 and last traded at $2.69, with a volume of 568,890 shares traded. The stock had previously closed at $2.64.

A number of brokerages recently issued reports on TNK. Seaport Global Securities began coverage on shares of Teekay Tankers in a research note on Wednesday, May 4th. They issued a “buy” rating and a $6.00 price target for the company. Vetr lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target for the company. in a research note on Wednesday, June 8th. Bank of America Corp. lowered shares of Teekay Tankers from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $3.00 to $3.57 in a research note on Friday, May 20th. DNB Markets lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Finally, Zacks Investment Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.00.

The firm has a 50 day moving average of $2.93 and a 200-day moving average of $3.48. The company has a market capitalization of $415.76 million and a price-to-earnings ratio of 2.61.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $139.62 million for the quarter, compared to analyst estimates of $131.06 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, analysts forecast that Teekay Tankers Ltd. will post $0.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.02%.

A hedge fund recently raised its stake in Teekay Tankers stock. Wells Fargo & Company MN raised its position in Teekay Tankers Ltd. (NYSE:TNK) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.87% of Teekay Tankers worth $9,107,000 at the end of the most recent reporting period.

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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