Teekay Tankers Ltd. (NYSE:TNK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Teekay Tankers has a consensus analyst rating of "Hold" from eight covering firms, with an average 1-year price target of $77.00.
• The stock has seen mixed analyst actions recently, including upgrades and downgrades from firms such as Wall Street Zen, Bank of America, Zacks Research, Evercore, and Weiss Ratings.
• Teekay Tankers reported $3.69 EPS in its latest quarterly results and recently paid a $0.25 per share quarterly dividend, equal to a 1.3% yield.

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) has earned a consensus rating of "Hold" from the eight research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $77.00.

TNK has been the topic of several recent analyst reports. Wall Street Zen upgraded Teekay Tankers from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Bank of America lifted their price target on Teekay Tankers from $69.00 to $75.00 and gave the company an "underperform" rating in a report on Wednesday, May 20th. Zacks Research downgraded shares of Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Evercore reiterated an "outperform" rating on shares of Teekay Tankers in a report on Wednesday. Finally, Weiss Ratings cut shares of Teekay Tankers from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday.

Teekay Tankers Stock Performance

Shares of TNK opened at $75.75 on Friday. The stock has a fifty day moving average of $72.66 and a two-hundred day moving average of $71.19. The company has a market capitalization of $2.62 billion, a PE ratio of 6.16 and a beta of -0.22. Teekay Tankers has a fifty-two week low of $41.77 and a fifty-two week high of $83.99.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. As a group, equities research analysts forecast that Teekay Tankers will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Teekay Tankers's dividend payout ratio is 8.13%.

Insiders Place Their Bets

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $71.53, for a total transaction of $502,927.43. Following the transaction, the director owned 7,445 shares of the company's stock, valued at $532,540.85. This trade represents a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Teekay Tankers

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Teekay Tankers by 107.2% in the first quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company's stock valued at $3,200,000 after acquiring an additional 43,258 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Teekay Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company's stock worth $546,000 after acquiring an additional 610 shares during the last quarter. Millennium Management LLC increased its stake in Teekay Tankers by 24.9% during the first quarter. Millennium Management LLC now owns 254,641 shares of the shipping company's stock worth $9,745,000 after acquiring an additional 50,815 shares during the last quarter. Prudential Financial Inc. raised its holdings 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 worth $491,000 after purchasing an additional 1,035 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of Teekay Tankers in the 2nd quarter worth about $224,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

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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