Teekay Tankers (NYSE:TNK) Shares Down 4.9% - Time to Sell?

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) traded down 4.9% during trading on Monday . The company traded as low as $46.01 and last traded at $45.27. 84,367 shares were traded during trading, a decline of 79% from the average session volume of 406,360 shares. The stock had previously closed at $47.59.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI dropped their price objective 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 issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Stock Performance

The business's 50 day moving average is $43.72 and its 200-day moving average is $41.12. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 5.00 and a beta of -0.03.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). Teekay Tankers had a net margin of 31.45% and a return on equity of 15.05%. The company had revenue of $115.64 million during the quarter, compared to analyst estimates of $146.31 million. During the same period in the prior year, the business posted $4.23 EPS. Teekay Tankers's revenue was down 37.1% compared to the same quarter last year. Sell-side analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Teekay Tankers in the 1st quarter valued at $612,000. Empowered Funds LLC lifted its holdings in Teekay Tankers by 1.8% in the 1st quarter. Empowered Funds LLC now owns 185,374 shares of the shipping company's stock valued at $7,094,000 after purchasing an additional 3,213 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Teekay Tankers by 15.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 9,030 shares of the shipping company's stock valued at $346,000 after purchasing an additional 1,234 shares in the last quarter. Millennium Management LLC lifted its holdings in Teekay Tankers by 24.9% in the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company's stock valued at $9,745,000 after purchasing an additional 50,815 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Teekay Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company's stock valued at $546,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

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.