Teekay Tankers (NYSE:TNK) Stock Price Down 3.4% – What’s Next?

Teekay Tankers Ltd. (NYSE:TNK) traded down 3.4% on Friday . The company traded as low as $39.79 and last traded at $39.85. 169,515 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 366,275 shares. The stock had previously closed at $41.25.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America restated an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Jefferies Financial Group dropped their price target on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research report on Friday, September 27th. Finally, StockNews.com assumed coverage on Teekay Tankers in a research report on Thursday, October 10th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.67.

Teekay Tankers Price Performance

The company has a fifty day simple moving average of $41.97 and a two-hundred day simple moving average of $53.55. The company has a market capitalization of $1.38 billion, a P/E ratio of 3.30, a price-to-earnings-growth ratio of 1.13 and a beta of -0.39.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio (DPR) is 8.21%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP bought a new position in Teekay Tankers during the second quarter worth $43,000. CWM LLC raised its position in shares of Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after buying an additional 482 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Teekay Tankers in the third quarter valued at about $132,000. US Bancorp DE acquired a new stake in Teekay Tankers during the third quarter worth about $231,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Teekay Tankers during the second quarter valued at about $237,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

About Teekay Tankers

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.