Teekay Tankers Ltd. (NYSE:TNK) Receives Average Rating of “Moderate Buy” from Brokerages

Teekay Tankers Ltd. (NYSE:TNK) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $77.00.

A number of equities analysts have issued reports on TNK shares. Weiss Ratings raised shares of Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Evercore reiterated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Bank of America increased their price target on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research note on Wednesday, May 20th. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Wall Street Zen cut Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd.

Teekay Tankers Trading Down 0.1%

Teekay Tankers stock opened at $90.89 on Wednesday. The company has a market cap of $3.14 billion, a PE ratio of 5.36 and a beta of -0.22. Teekay Tankers has a 1 year low of $47.07 and a 1 year high of $94.44. The company’s 50-day moving average is $75.72 and its two-hundred day moving average is $74.22.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, July 29th. The shipping company reported $5.56 EPS for the quarter, missing the consensus estimate of $5.61 by ($0.05). The business had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. Research analysts forecast that Teekay Tankers will post 15.4 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.00 annualized dividend and a yield of 1.1%. Teekay Tankers’s dividend payout ratio is presently 5.89%.

Insiders Place Their Bets

In other news, Director David Schellenberg sold 7,031 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $71.53, for a total value of $502,927.43. Following the completion of the sale, the director directly owned 7,445 shares of the company’s stock, valued at $532,540.85. This represents a 48.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rohit (Rk2) Kapoor sold 6,375 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $89.28, for a total value of $569,160.00. Following the completion of the sale, the director directly owned 2,126 shares of the company’s stock, valued at approximately $189,809.28. This trade represents a 74.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 14,147 shares of company stock worth $1,138,777. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TNK. Mirae Asset Global Investments Co. Ltd. bought a new stake in Teekay Tankers in the fourth quarter valued at approximately $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Teekay Tankers during the fourth quarter worth $33,000. Leonteq Securities AG bought a new position in shares of Teekay Tankers during the fourth quarter worth $34,000. Global Trust Asset Management LLC acquired a new position in shares of Teekay Tankers in the 1st quarter valued at $46,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Teekay Tankers by 2,948.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock valued at $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.