Teekay Tankers Ltd. (NYSE:TNK) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Shares carry a consensus analyst recommendation of Buy from seven research firms, with an average 1‑year target price of $77.00.
• Institutional investors have been adding to positions — including AQR and Millennium — and institutions now own 52.67% of the company’s stock.
• Teekay recently beat estimates with quarterly EPS of $2.80 (vs. $2.71 est.) and revenue of $258.27M (vs. $179.7M), the company has a market cap of $2.58B and pays a quarterly dividend of $0.25 (annualized $1.00, yield 1.3%).

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $77.00.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Teekay Tankers in a research note on Friday, March 27th. Dnb Carnegie lowered shares of Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Wall Street Zen lowered shares of Teekay Tankers from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Evercore reissued an "outperform" rating and set a $84.00 target price on shares of Teekay Tankers in a research note on Friday, February 20th. Finally, Zacks Research raised shares of Teekay Tankers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 4th.

Institutional Investors Weigh In On Teekay Tankers

Several institutional investors and hedge funds have recently modified their holdings of TNK. AQR Capital Management LLC lifted its stake in shares of Teekay Tankers by 107.2% in the 1st quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company's stock valued at $3,200,000 after purchasing an additional 43,258 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Teekay Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company's stock valued at $546,000 after purchasing an additional 610 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Teekay Tankers by 24.9% in the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company's stock valued at $9,745,000 after purchasing an additional 50,815 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Teekay Tankers by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 11,765 shares of the shipping company's stock valued at $491,000 after purchasing an additional 1,035 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Teekay Tankers in the 2nd quarter valued at $224,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Up 2.6%

Shares of NYSE:TNK opened at $74.77 on Thursday. The firm has a fifty day moving average of $71.85 and a two-hundred day moving average of $62.26. The firm has a market capitalization of $2.58 billion, a P/E ratio of 7.41 and a beta of -0.28. Teekay Tankers has a 12-month low of $37.14 and a 12-month high of $82.24.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Thursday, February 19th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.09. The company had revenue of $258.27 million during the quarter, compared to analyst estimates of $179.70 million. Teekay Tankers had a net margin of 36.90% and a return on equity of 12.60%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. Equities research analysts expect that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Teekay Tankers's dividend payout ratio (DPR) is 9.91%.

Teekay Tankers Company Profile

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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