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

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

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Zacks Research lowered shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Evercore reiterated an “outperform” rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th.

Teekay Tankers Stock Performance

Shares of NYSE:TNK opened at $100.68 on Friday. The firm’s 50 day simple moving average is $84.76 and its 200-day simple moving average is $77.46. Teekay Tankers has a one year low of $47.18 and a one year high of $103.16. The firm has a market cap of $3.48 billion, a PE ratio of 5.93 and a beta of -0.19.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $5.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.61 by ($0.05). The firm had revenue of $258.26 million during the quarter, compared to the consensus estimate of $299.03 million. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. Equities research analysts predict that Teekay Tankers will post 15.4 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company 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. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 10th. Teekay Tankers’s dividend payout ratio (DPR) is 5.89%.

Insiders Place Their Bets

In other news, Director Rohit (Rk2) Kapoor sold 6,375 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $89.28, for a total transaction of $569,160.00. Following the completion of the sale, the director owned 2,126 shares in the company, valued at approximately $189,809.28. This represents a 74.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heidi Locke Simon sold 741 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total value of $66,690.00. Following the completion of the sale, the director directly owned 4,000 shares of the company’s stock, valued at $360,000. The trade was a 15.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 14,561 shares of company stock valued at $1,380,350. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teekay Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in shares of Teekay Tankers during the first quarter worth about $2,109,000. Arrowstreet Capital Limited Partnership raised its position in shares of Teekay Tankers by 367.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock valued at $15,947,000 after purchasing an additional 170,940 shares during the last quarter. Fearnley Asset Management AS acquired a new stake in Teekay Tankers in the 4th quarter worth approximately $17,890,000. Mizuho Markets Americas LLC acquired a new stake in Teekay Tankers in the 1st quarter worth approximately $18,330,000. Finally, NEOS Investment Management LLC boosted its stake in Teekay Tankers by 41.4% in the 2nd quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock worth $16,584,000 after purchasing an additional 74,894 shares in 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. (NYSE: TNK) is a marine transportation company that owns and operates tankers used to transport crude oil, refined petroleum products and other liquid cargoes. Its fleet includes vessels serving the crude oil and product tanker segments, with operations focused on the international energy transportation market.

The company provides commercial and technical vessel management, chartering and transportation services to energy companies, commodity traders and other customers.