Teekay Tankers Ltd. (NYSE:TNK) Given Average Recommendation of “Moderate Buy” by Brokerages

Teekay Tankers Ltd. (NYSE:TNK) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $77.00.

Several equities research analysts have recently weighed in on TNK shares. Bank of America raised their price objective on Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 20th. Wall Street Zen raised Teekay Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Dnb Carnegie lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Evercore reiterated an “outperform” rating and issued a $86.00 target price on shares of Teekay Tankers in a report on Friday, May 15th.

Teekay Tankers Trading Up 0.5%

NYSE:TNK opened at $71.99 on Friday. Teekay Tankers has a twelve month low of $41.05 and a twelve month high of $83.99. The company has a 50-day moving average of $75.69 and a 200-day moving average of $67.42. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 5.85 and a beta of -0.25.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 earnings per share for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. On average, research analysts forecast that Teekay Tankers will post 13.75 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 26th. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.13%.

Insider Activity at Teekay Tankers

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $71.53, for a total value of $502,927.43. Following the completion of the transaction, the director directly owned 7,445 shares in the company, valued at $532,540.85. This trade represents a 48.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Teekay Tankers

Several hedge funds and other institutional investors have recently modified their holdings of TNK. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Teekay Tankers in the fourth quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Teekay Tankers in the fourth quarter worth $33,000. Leonteq Securities AG acquired a new stake in shares of Teekay Tankers in the fourth quarter worth $34,000. Global Trust Asset Management LLC acquired a new stake in shares of Teekay Tankers in the first quarter worth $46,000. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Teekay Tankers by 2,948.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock worth $57,000 after buying an additional 1,032 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.