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.
View Our Latest Stock Report on Teekay Tankers
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
(
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.
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