Teekay Tankers (NYSE:TNK) Stock Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Teekay Tankers' share price recently surpassed its 200-day moving average, trading as high as $45.15, with the last recorded price at $44.08.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $50.67.
• The company announced a quarterly dividend of $0.25, providing an annualized yield of 2.3%, with an upcoming payment date on August 22nd.

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.07 and traded as high as $45.15. Teekay Tankers shares last traded at $44.08, with a volume of 683,466 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on TNK. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st. Evercore ISI reduced their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Trading Up 1.6%

The business's 50 day moving average price is $44.42 and its two-hundred day moving average price is $42.11. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 5.60 and a beta of -0.09.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%. The business had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. During the same quarter in the prior year, the business earned $3.11 earnings per share. Analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 11th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, August 11th. This represents a $1.00 annualized dividend and a yield of 2.2%. Teekay Tankers's dividend payout ratio (DPR) is currently 12.42%.

Institutional Investors Weigh In On Teekay Tankers

Hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC increased its stake in shares of Teekay Tankers by 13.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 2,084 shares of the shipping company's stock valued at $87,000 after acquiring an additional 240 shares in the last quarter. Martingale Asset Management L P increased its position in shares of Teekay Tankers by 0.4% during the first quarter. Martingale Asset Management L P now owns 64,789 shares of the shipping company's stock valued at $2,479,000 after buying an additional 248 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Teekay Tankers by 0.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 38,123 shares of the shipping company's stock valued at $1,459,000 after buying an additional 285 shares during the period. Raymond James Financial Inc. increased its position in shares of Teekay Tankers by 2.3% in the second quarter. Raymond James Financial Inc. now owns 15,978 shares of the shipping company's stock worth $667,000 after purchasing an additional 366 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Teekay Tankers by 77.0% in the second quarter. GAMMA Investing LLC now owns 906 shares of the shipping company's stock worth $38,000 after purchasing an additional 394 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

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.