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Teekay Tankers (NYSE:TNK) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Teekay Tankers logo with Transportation background

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $41.57 and traded as high as $45.72. Teekay Tankers shares last traded at $44.97, with a volume of 391,658 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI cut their price target on 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Check Out Our Latest Stock Analysis on TNK

Teekay Tankers Price Performance

The stock has a market capitalization of $1.54 billion, a PE ratio of 4.82 and a beta of -0.04. The company has a 50 day moving average price of $44.71 and a 200-day moving average price of $41.57.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results 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). Teekay Tankers had a return on equity of 15.05% and a net margin of 31.45%. The firm had revenue of $115.64 million during the quarter, compared to analysts' expectations of $146.31 million. During the same period in the previous year, the company earned $4.23 earnings per share. Teekay Tankers's revenue for the quarter was down 37.1% on a year-over-year basis. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

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

Institutional Trading of Teekay Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. grew its position in shares of Teekay Tankers by 1.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,238,898 shares of the shipping company's stock worth $47,413,000 after purchasing an additional 18,222 shares in the last quarter. American Century Companies Inc. boosted its stake in Teekay Tankers by 2.7% during the first quarter. American Century Companies Inc. now owns 939,599 shares of the shipping company's stock valued at $35,958,000 after buying an additional 24,942 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Teekay Tankers by 1.8% during the fourth quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock valued at $23,970,000 after buying an additional 10,900 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in Teekay Tankers during the first quarter valued at approximately $17,210,000. Finally, Bridgeway Capital Management LLC boosted its stake in Teekay Tankers by 0.9% during the first quarter. Bridgeway Capital Management LLC now owns 352,374 shares of the shipping company's stock valued at $13,485,000 after buying an additional 3,213 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Company Profile

(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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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