Teekay Tankers Ltd. (NYSE:TNK - Get Free Report)'s share price dropped 4.9% on Monday . The company traded as low as $46.01 and last traded at $45.27. Approximately 84,367 shares changed hands during trading, a decline of 79% from the average daily volume of 406,360 shares. The stock had previously closed at $47.59.
Analyst Ratings Changes
TNK has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI decreased their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.67.
Read Our Latest Stock Analysis on TNK
Teekay Tankers Stock Performance
The firm has a fifty day moving average price of $42.85 and a 200 day moving average price of $40.95. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 4.06 and a beta of -0.03.
Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). The firm had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The firm's quarterly revenue was down 37.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.23 earnings per share. Research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.
Teekay Tankers Increases Dividend
The company also recently announced a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a $1.00 dividend. This represents a yield of 2.3%. This is an increase from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date was Monday, May 19th. Teekay Tankers's dividend payout ratio is 10.72%.
Institutional Investors Weigh In On Teekay Tankers
Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at $5,131,000. ABC Arbitrage SA acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at $372,000. Proficio Capital Partners LLC acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at $629,000. Dynamic Technology Lab Private Ltd acquired a new stake in Teekay Tankers during the 4th quarter valued at $310,000. Finally, Ameriprise Financial Inc. raised its stake in Teekay Tankers by 52.3% during the 4th quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock valued at $6,574,000 after purchasing an additional 56,737 shares during the period. 52.67% of the stock is currently owned by institutional investors and hedge funds.
About Teekay Tankers
(
Get Free Report)
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.
Further Reading
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