Teekay Tankers Ltd. (TNK) Trading Up 1.9%
Shares of Teekay Tankers Ltd. (NYSE:TNK) were up 1.9% on Tuesday . The stock traded as high as $2.72 and last traded at $2.69, with a volume of 568,890 shares changing hands. The stock had previously closed at $2.64.
Several analysts have recently weighed in on TNK shares. Morgan Stanley restated an “equal weight” rating and set a $2.50 target price (down from $3.60) on shares of Teekay Tankers in a research note on Friday, August 26th. Danske restated a “sell” rating on shares of Teekay Tankers in a research note on Monday, August 8th. Zacks Investment Research downgraded Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. Clarkson Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Teekay Tankers in a report on Thursday, May 19th. Finally, Stifel Nicolaus cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.00.
The firm has a market cap of $406.38 million and a PE ratio of 2.55. The stock has a 50-day moving average of $2.91 and a 200-day moving average of $3.46.
Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. During the same period in the previous year, the firm earned $0.35 EPS. The business earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. The business’s revenue was up 25.4% compared to the same quarter last year. Equities research analysts forecast that Teekay Tankers Ltd. will post $0.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors 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 yield of 9.20%.
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 filing with the 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 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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