Teekay Tankers Ltd. Declares Quarterly Dividend of $0.25 (NYSE:TNK)

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Tuesday, May 26th will be given a dividend of 0.25 per share by the shipping company on Tuesday, June 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, May 26th.

Teekay Tankers has a dividend payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teekay Tankers to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.5%.

Teekay Tankers Trading Down 2.9%

Shares of NYSE TNK opened at $77.74 on Thursday. Teekay Tankers has a 12-month low of $41.05 and a 12-month high of $83.99. The company has a market cap of $2.69 billion, a PE ratio of 7.70 and a beta of -0.21. The stock has a 50 day simple moving average of $74.12 and a 200-day simple moving average of $65.64.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. The firm had revenue of $286.09 million for the quarter. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%. Sell-side analysts forecast that Teekay Tankers will post 7.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on TNK. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a report on Friday, March 27th. Wall Street Zen upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. DNB Markets cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Evercore restated an “outperform” rating and set a $90.00 price target on shares of Teekay Tankers in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

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.