Teekay Tankers Ltd. (NYSE:TNK) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Teekay Tankers a “Moderate Buy” consensus from eight ratings, with a 12-month average price target of $77.00 versus the stock’s reported opening price of $89.25.
• The company reported quarterly EPS of $5.56, slightly below the $5.61 consensus, while revenue of $258.26 million missed estimates but increased 32.6% year over year.
• Teekay Tankers declared a quarterly dividend of $0.25 per share, representing a 1.1% yield; insiders sold 14,147 shares worth about $1.14 million during the last quarter.

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) have earned an average rating of "Moderate Buy" from the eight analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $77.00.

A number of equities analysts have recently weighed in on TNK shares. Wall Street Zen cut Teekay Tankers from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Evercore reaffirmed an "outperform" rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Teekay Tankers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Zacks Research lowered shares of Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Bank of America lifted their price target on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an "underperform" rating in a research report on Wednesday, May 20th.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $89.25 on Wednesday. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 5.26 and a beta of -0.22. Teekay Tankers has a fifty-two week low of $43.54 and a fifty-two week high of $90.32. The stock has a 50 day moving average of $74.69 and a 200 day moving average of $73.66.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its earnings results on Wednesday, July 29th. The shipping company reported $5.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.61 by ($0.05). Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The business had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. During the same period last year, the business earned $1.41 EPS. Teekay Tankers's revenue was up 32.6% compared to the same quarter last year. Analysts forecast that Teekay Tankers will post 15.4 EPS for the current year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Teekay Tankers's dividend payout ratio (DPR) is presently 5.89%.

Insider Activity at Teekay Tankers

In other Teekay Tankers news, Director Simon Heidi Locke sold 741 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total value of $66,690.00. Following the sale, the director owned 4,000 shares of the company's stock, valued at $360,000. The trade was a 15.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rohit (Rk2) Kapoor sold 6,375 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $89.28, for a total value of $569,160.00. Following the transaction, the director owned 2,126 shares in the company, valued at $189,809.28. This trade represents a 74.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 14,147 shares of company stock worth $1,138,777. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TNK. Public Employees Retirement System of Ohio acquired a new position in shares of Teekay Tankers in the second quarter worth $1,699,000. Great Lakes Advisors LLC purchased a new position in shares of Teekay Tankers in the 2nd quarter valued at about $3,439,000. Contravisory Investment Management Inc. purchased a new position in Teekay Tankers in the second quarter valued at approximately $247,000. Baron Wealth Management LLC grew its position in shares of Teekay Tankers by 4.5% in the 2nd quarter. Baron Wealth Management LLC now owns 4,094 shares of the shipping company's stock valued at $266,000 after buying an additional 178 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Teekay Tankers by 7,218.9% during the first quarter. NewEdge Advisors LLC now owns 3,879 shares of the shipping company's stock worth $284,000 after purchasing an additional 3,826 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company's fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.

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