Teekay Tankers Ltd. (TNK) Trading Down 1.9%
Teekay Tankers Ltd. (NYSE:TNK) fell 1.9% during trading on Thursday . The stock traded as low as $2.51 and last traded at $2.56, with a volume of 1,187,550 shares changing hands. The stock had previously closed at $2.61.
Several research analysts recently issued reports on TNK shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $2.50 target price (down previously from $3.60) on shares of Teekay Tankers in a research report on Friday, August 26th. Zacks Investment Research cut Teekay Tankers from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 11th. Danske reaffirmed a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Vetr cut Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.94 target price on the stock. in a research report on Wednesday, June 8th. 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 assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.00.
The firm has a market cap of $395.44 million and a price-to-earnings ratio of 2.48. The firm has a 50-day moving average of $2.88 and a 200-day moving average of $3.45.
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, topping the consensus estimate of $0.19 by $0.01. The firm earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue was up 25.4% on a year-over-year basis. Equities analysts expect that Teekay Tankers Ltd. will post $0.82 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 9.49%. 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 boosted its stake 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 institutional investor 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.