Teekay Tankers (NYSE:TNK) Sets New 52-Week High – Should You Buy?

Teekay Tankers Ltd. (NYSE:TNK) shares hit a new 52-week high on Tuesday . The company traded as high as $82.24 and last traded at $77.9670, with a volume of 1050371 shares changing hands. The stock had previously closed at $78.27.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Wall Street Zen cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Evercore restated an “outperform” rating and set a $84.00 target price on shares of Teekay Tankers in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Teekay Tankers currently has a consensus rating of “Buy” and an average price target of $77.00.

Teekay Tankers Trading Down 0.4%

The company has a market cap of $2.69 billion, a price-to-earnings ratio of 7.73 and a beta of -0.32. The business has a fifty day moving average of $63.37 and a two-hundred day moving average of $57.51.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, February 18th. The shipping company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.71 by $0.09. The company had revenue of $158.78 million during the quarter, compared to analyst estimates of $179.70 million. Teekay Tankers had a net margin of 36.90% and a return on equity of 12.60%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Teekay Tankers’s dividend payout ratio is presently 9.91%.

Institutional Trading of Teekay Tankers

Several large investors have recently made changes to their positions in TNK. Mirae Asset Global Investments Co. Ltd. acquired a new position in Teekay Tankers in the 4th quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at about $33,000. Leonteq Securities AG purchased a new position in shares of Teekay Tankers in the fourth quarter worth about $34,000. State of Alaska Department of Revenue acquired a new position in Teekay Tankers during the third quarter worth about $54,000. Finally, Aster Capital Management DIFC Ltd boosted its position in Teekay Tankers by 2,948.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock worth $57,000 after acquiring an additional 1,032 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Company Profile

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.