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

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.84 and traded as high as $44.31. Teekay Tankers shares last traded at $43.63, with a volume of 246,364 shares trading hands.

Analysts Set New Price Targets

TNK has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI reduced their target price on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Price Performance

The business has a fifty day moving average of $42.42 and a 200 day moving average of $40.87. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 4.03 and a beta of -0.03.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same quarter last year, the firm earned $4.23 earnings per share. The firm's quarterly revenue was down 37.1% compared to the same quarter last year. On average, analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

The business also recently disclosed a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $1.00 per share. The ex-dividend date was Monday, May 19th. This is a boost from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. Teekay Tankers's dividend payout ratio (DPR) is presently 10.72%.

Hedge Funds Weigh In On Teekay Tankers

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Teekay Tankers by 273.7% during the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after acquiring an additional 23,051 shares during the last quarter. Choreo LLC bought a new position in Teekay Tankers in the fourth quarter valued at about $294,000. Essex Financial Services Inc. bought a new position in Teekay Tankers in the fourth quarter valued at about $255,000. Allspring Global Investments Holdings LLC increased its position in Teekay Tankers by 32.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 37,838 shares of the shipping company's stock worth $1,561,000 after purchasing an additional 9,222 shares during the period. Finally, ABC Arbitrage SA bought a new stake in Teekay Tankers during the 4th quarter worth about $372,000. 52.67% of the stock is owned by institutional investors.

About Teekay Tankers

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.