Teekay Tankers (NYSE:TNK) Shares Cross Above 200 Day Moving Average - What's Next?

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.

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) 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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group reissued 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 cut their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Price Performance

The firm has a market capitalization of $1.52 billion, a P/E ratio of 5.53 and a beta of -0.09. The stock's 50-day simple moving average is $44.44 and its two-hundred day simple moving average is $42.13.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.The firm had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. During the same quarter in the previous year, the company earned $3.11 earnings per share. On average, analysts forecast that Teekay Tankers Ltd. 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 will be paid on Friday, August 22nd. Stockholders of record on Monday, August 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, August 11th. Teekay Tankers's payout ratio is 12.42%.

Institutional Investors Weigh In On Teekay Tankers

A number of hedge funds have recently bought and sold shares of TNK. Encompass Capital Advisors LLC purchased a new stake in Teekay Tankers during the first quarter valued at $17,210,000. Pacer Advisors Inc. purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $11,986,000. Nuveen LLC purchased a new position in shares of Teekay Tankers during the first quarter valued at approximately $8,702,000. Voloridge Investment Management LLC boosted its position in shares of Teekay Tankers by 1,352.3% during the fourth quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock valued at $9,658,000 after buying an additional 226,001 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $8,110,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

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.