NYSE:TNK - Get Free Report ) hit a new 52-week high during trading on Thursday after Jefferies Financial Group raised their price target on the stock from $70.00 to $76.00. Jefferies Financial Group currently has a buy rating on the stock. Teekay Tankers traded as high as $69.40 and last traded at $67.32, with a volume of 96903 shares changing hands. The stock had previously closed at $63.54.
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Several other research analysts have also issued reports on TNK. Evercore ISI cut their target price on shares of Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating on the stock in a research note on Friday, February 23rd. Bank of America raised Teekay Tankers from a "neutral" rating to a "buy" rating and boosted their target price for the company from $56.00 to $72.00 in a research report on Friday, January 19th. Finally, StockNews.com upgraded Teekay Tankers from a "hold" rating to a "buy" rating in a report on Thursday, March 21st.
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Institutional Inflows and Outflows A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of Teekay Tankers by 1,167.5% during the fourth quarter. SG Americas Securities LLC now owns 51,003 shares of the shipping company's stock valued at $2,549,000 after buying an additional 46,979 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Teekay Tankers by 180.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 182,816 shares of the shipping company's stock worth $7,611,000 after acquiring an additional 117,716 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Teekay Tankers by 666.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company's stock worth $62,000 after acquiring an additional 1,300 shares in the last quarter. Strs Ohio raised its holdings in shares of Teekay Tankers by 55.2% in the fourth quarter. Strs Ohio now owns 14,900 shares of the shipping company's stock valued at $744,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Teekay Tankers during the third quarter valued at about $309,000. 52.67% of the stock is owned by institutional investors.
Teekay Tankers Trading Up 9.0 % The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02. The firm's fifty day moving average is $57.43 and its two-hundred day moving average is $54.82. The firm has a market capitalization of $2.37 billion, a PE ratio of 4.66, a PEG ratio of 1.41 and a beta of -0.27.
Teekay Tankers (NYSE:TNK - Get Free Report ) last announced its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts' consensus estimates of $3.68 by ($0.81). The business had revenue of $194.46 million during the quarter, compared to analysts' expectations of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. On average, equities analysts predict that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.
Teekay Tankers Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers's dividend payout ratio is presently 6.73%.
Teekay Tankers Company Profile (
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Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.
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