Teekay Tankers (NYSE:TNK) Trading 7.3% Higher - Time to Buy?

Key Points

• Teekay Tankers' stock price surged by 7.3%, reaching a recent high of $55.89, although trading volume was significantly lower than average.
• Equities analysts have upgraded Teekay Tankers, with Zacks raising its rating from "strong sell" to "hold" and Jefferies giving a "buy" rating with a price target of $55.00.
• The company has announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 1.8% and a low dividend payout ratio of 12.42%.

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report)'s stock price traded up 7.3% on Monday . The company traded as high as $54.75 and last traded at $55.89. 87,210 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 516,582 shares. The stock had previously closed at $52.10.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TNK shares. Zacks Research raised shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Stock Up 6.9%

The firm's 50 day simple moving average is $46.25 and its 200 day simple moving average is $43.21. The company has a market cap of $1.91 billion and a price-to-earnings ratio of 6.91.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.18). The company had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. During the same quarter last year, the business earned $3.11 earnings per share. Analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were issued a $0.25 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Teekay Tankers's dividend payout ratio (DPR) is 12.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Teekay Tankers by 77.0% in the second quarter. GAMMA Investing LLC now owns 906 shares of the shipping company's stock valued at $38,000 after acquiring an additional 394 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after acquiring an additional 568 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Teekay Tankers by 19.7% during the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock worth $71,000 after buying an additional 304 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Teekay Tankers by 85.9% during the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company's stock worth $101,000 after buying an additional 1,123 shares in the last quarter. Finally, State of Wyoming bought a new stake in Teekay Tankers during the second quarter worth approximately $129,000. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Company Profile

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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