Teekay Tankers (NYSE:TNK) Trading Down 3.7%

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as $55.55 and last traded at $55.64. Approximately 176,260 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 455,005 shares. The stock had previously closed at $57.78.

Analyst Ratings Changes

TNK has been the subject of several analyst reports. StockNews.com raised shares of Teekay Tankers from a "hold" rating to a "buy" rating in a research note on Thursday, March 21st. Jefferies Financial Group reissued a "buy" rating and issued a $70.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 22nd. Evercore ISI decreased their price objective on shares of Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. Finally, Bank of America raised shares of Teekay Tankers from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $56.00 to $72.00 in a research note on Friday, January 19th.

Teekay Tankers Stock Down 3.8 %

The company's 50 day moving average price is $57.00 and its two-hundred day moving average price is $52.18. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.89 billion, a P/E ratio of 3.75, a P/E/G ratio of 1.37 and a beta of -0.28.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The company had revenue of $194.46 million for the quarter, compared to the consensus estimate of $219.93 million. As a group, research analysts expect that Teekay Tankers Ltd. will post 14.28 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers's payout ratio is 6.73%.

Hedge Funds Weigh In On Teekay Tankers

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Teekay Tankers by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company's stock valued at $100,964,000 after buying an additional 54,886 shares during the period. BlackRock Inc. increased its holdings in Teekay Tankers by 35.3% during the third quarter. BlackRock Inc. now owns 1,675,406 shares of the shipping company's stock valued at $46,140,000 after buying an additional 437,348 shares during the period. Millennium Management LLC grew its holdings in Teekay Tankers by 16.0% in the fourth quarter. Millennium Management LLC now owns 1,016,716 shares of the shipping company's stock worth $31,325,000 after purchasing an additional 140,258 shares during the last quarter. Morgan Stanley grew its holdings in Teekay Tankers by 15.5% in the fourth quarter. Morgan Stanley now owns 846,399 shares of the shipping company's stock worth $26,078,000 after purchasing an additional 113,898 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Teekay Tankers by 38.8% in the fourth quarter. Principal Financial Group Inc. now owns 828,888 shares of the shipping company's stock worth $41,420,000 after purchasing an additional 231,921 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

About Teekay Tankers

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.