Teekay Tankers Ltd. (NYSE:TNK) Stock Has Consensus Price Target of $77.00 According to Analysts

Teekay Tankers Ltd. (NYSE:TNK) has received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $77.00.

TNK has been the topic of several recent research reports. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Zacks Research downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings raised Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Wall Street Zen lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd.

Teekay Tankers Price Performance

Shares of TNK opened at $108.54 on Thursday. The firm’s 50 day moving average is $92.76 and its 200-day moving average is $80.86. The stock has a market capitalization of $3.75 billion, a P/E ratio of 6.40 and a beta of -0.09. Teekay Tankers has a 12-month low of $47.18 and a 12-month high of $110.65.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, July 29th. The shipping company reported $5.56 EPS for the quarter, missing analysts’ consensus estimates of $5.61 by ($0.05). The business 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 quarter in the previous year, the firm earned $1.41 earnings per share. As a group, equities research analysts forecast that Teekay Tankers will post 15.40 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Teekay Tankers’s payout ratio is 5.89%.

Insider Activity

In related news, Director Heidi Locke Simon sold 741 shares of the 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 transaction, the director owned 4,000 shares in the company, valued at $360,000. This trade represents a 15.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Schellenberg sold 7,344 shares of Teekay Tankers stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $100.00, for a total value of $734,400.00. Following the completion of the transaction, the director directly owned 7,344 shares in the company, valued at $734,400. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,561 shares of company stock valued at $1,380,350 over the last three months. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Teekay Tankers

A number of large investors have recently made changes to their positions in the company. Baron Wealth Management LLC grew its holdings in shares of Teekay Tankers by 4.5% during the second quarter. Baron Wealth Management LLC now owns 4,094 shares of the shipping company’s stock valued at $266,000 after buying an additional 178 shares in the last quarter. GAMMA Investing LLC raised its position in Teekay Tankers by 14.1% during the third quarter. GAMMA Investing LLC now owns 1,518 shares of the shipping company’s stock valued at $147,000 after buying an additional 188 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Teekay Tankers during the second quarter valued at $28,000. Strategic Global Advisors LLC raised its position in Teekay Tankers by 1.3% during the fourth quarter. Strategic Global Advisors LLC now owns 34,557 shares of the shipping company’s stock valued at $1,846,000 after buying an additional 428 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in Teekay Tankers in the 1st quarter worth about $46,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

About Teekay Tankers

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company focused on the international shipment of crude oil and refined petroleum products. The company owns and operates a fleet of conventional and specialized tankers that transport energy commodities for oil companies, refiners, commodity traders and other customers.

Its fleet has included crude oil tankers in segments such as Aframax and Suezmax, as well as product tankers used to carry refined fuels. Teekay Tankers generates revenue through vessel chartering arrangements and commercial pool and voyage activities, serving routes across major global oil-trading regions.

Teekay Tankers was established in 2007 as part of the Teekay group and is affiliated with Teekay Corporation, a marine energy transportation company.