Teekay Tankers (NYSE:TNK) Trading 4.1% Higher

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) shares shot up 4.1% on Thursday . The company traded as high as $59.19 and last traded at $58.65. 58,849 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 454,209 shares. The stock had previously closed at $56.36.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TNK. Bank of America raised Teekay Tankers from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $56.00 to $72.00 in a report on Friday, January 19th. Evercore ISI lowered their price objective on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. StockNews.com raised Teekay Tankers from a "hold" rating to a "buy" rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Teekay Tankers in a report on Thursday, February 22nd.

Teekay Tankers Price Performance

The company has a 50 day moving average price of $56.70 and a 200 day moving average price of $52.36. The firm has a market cap of $2.01 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.35 and a beta of -0.28. The company has a current ratio of 4.40, a quick ratio of 4.02 and a debt-to-equity ratio of 0.08.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.81). The firm had revenue of $194.46 million for 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, sell-side analysts expect that Teekay Tankers Ltd. will post 14.28 EPS for the current year.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Friday, March 1st. Teekay Tankers's dividend payout ratio (DPR) is 6.73%.

Institutional Investors Weigh In On Teekay Tankers

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Teekay Tankers by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 171,578 shares of the shipping company's stock valued at $8,574,000 after buying an additional 7,877 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Teekay Tankers in the 4th quarter valued at approximately $38,000. Virtu Financial LLC purchased a new stake in Teekay Tankers in the 4th quarter valued at approximately $451,000. Price T Rowe Associates Inc. MD lifted its stake in Teekay Tankers by 10.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,869 shares of the shipping company's stock valued at $294,000 after buying an additional 540 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Teekay Tankers by 19.1% in the 4th quarter. Legal & General Group Plc now owns 3,201 shares of the shipping company's stock valued at $160,000 after buying an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Company Profile

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.