Teekay Tankers Ltd. (TNK) Reaches New 12-Month Low at $2.60
Teekay Tankers Ltd. (NYSE:TNK) shares hit a new 52-week low on Wednesday . The stock traded as low as $2.60 and last traded at $2.65, with a volume of 659,173 shares changing hands. The stock had previously closed at $2.66.
Several research analysts recently weighed in on the company. Vetr cut Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 price target for the company. in a research report on Wednesday, June 8th. Bank of America Corp. cut Teekay Tankers from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $3.00 to $3.57 in a research report on Friday, May 20th. DNB Markets cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Zacks Investment Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Stifel Nicolaus cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st. Three equities research 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 currently has an average rating of “Hold” and an average price target of $7.00.
The stock has a market cap of $397.00 million and a PE ratio of 2.49. The stock has a 50 day moving average price of $2.89 and a 200 day moving average price of $3.46.
Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. During the same period last year, the company posted $0.35 earnings per share. The business had revenue of $139.62 million for the quarter, compared to analysts’ expectations of $131.06 million. The business’s quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts predict that Teekay Tankers Ltd. will post $0.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 15th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date of this dividend was Thursday, August 11th.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.
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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