Teekay Tankers Ltd. (NYSE:TNK) saw strong trading volume on Friday . 3,919,336 shares traded hands during mid-day trading, an increase of 197% from the previous session’s volume of 1,319,750 shares.The stock last traded at $1.58 and had previously closed at $1.44.

A number of research analysts have recently issued reports on the stock. UBS AG reaffirmed a “sell” rating and issued a $1.50 price objective (down previously from $2.00) on shares of Teekay Tankers in a research report on Friday, June 9th. TheStreet downgraded shares of Teekay Tankers from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. ValuEngine downgraded shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised shares of Teekay Tankers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Teekay Tankers has a consensus rating of “Hold” and a consensus price target of $2.27.

The company’s 50 day moving average is $1.52 and its 200 day moving average is $1.85. The firm’s market capitalization is $268.54 million.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The company had revenue of $89.40 million for the quarter, compared to analyst estimates of $80.68 million. Teekay Tankers had a negative net margin of 7.38% and a positive return on equity of 0.39%. The firm’s revenue was down 36.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. On average, equities analysts predict that Teekay Tankers Ltd. will post ($0.03) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 14th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 7.59%. Teekay Tankers’s dividend payout ratio (DPR) is presently -63.16%.

Several institutional investors and hedge funds have recently made changes to their positions in TNK. The Manufacturers Life Insurance Company lifted its holdings in shares of Teekay Tankers by 16.6% during the second quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock worth $202,000 after purchasing an additional 15,304 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Teekay Tankers by 21.8% during the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock worth $100,000 after purchasing an additional 9,526 shares during the period. State Street Corp lifted its holdings in shares of Teekay Tankers by 9.6% during the second quarter. State Street Corp now owns 1,952,507 shares of the shipping company’s stock worth $3,671,000 after purchasing an additional 170,377 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Teekay Tankers by 26.3% during the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock worth $119,000 after purchasing an additional 13,167 shares during the period. Finally, Huber Capital Management LLC lifted its holdings in shares of Teekay Tankers by 12.4% during the second quarter. Huber Capital Management LLC now owns 14,563,834 shares of the shipping company’s stock worth $27,380,000 after purchasing an additional 1,602,809 shares during the period. Institutional investors and hedge funds own 39.00% of the company’s stock.

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About Teekay Tankers

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 has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.

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