Teekay Tankers (NYSE:TNK) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Teekay Tankers (NYSE:TNKFree Report) from a hold rating to a buy rating in a report published on Friday.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Teekay Tankers from $70.00 to $76.00 and gave the company a buy rating in a report on Thursday, May 9th. Bank of America upped their target price on Teekay Tankers from $66.00 to $79.00 and gave the stock a buy rating in a research report on Friday, May 10th. Finally, Evercore ISI reduced their price target on Teekay Tankers from $77.00 to $73.00 and set an outperform rating on the stock in a research report on Friday, February 23rd.

Check Out Our Latest Report on Teekay Tankers

Teekay Tankers Stock Up 1.4 %

Shares of TNK opened at $70.62 on Friday. The firm has a market cap of $2.42 billion, a PE ratio of 4.99, a price-to-earnings-growth ratio of 1.63 and a beta of -0.27. The company’s fifty day moving average is $59.75 and its two-hundred day moving average is $56.00. Teekay Tankers has a fifty-two week low of $35.00 and a fifty-two week high of $72.76.

Teekay Tankers (NYSE:TNKGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). The company had revenue of $194.46 million during the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a net margin of 37.39% and a return on equity of 30.73%. As a group, equities research analysts anticipate that Teekay Tankers will post 14.67 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a None dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be given a dividend of $2.25 per share. This represents a dividend yield of 1.5%. The ex-dividend date is Monday, May 20th. Teekay Tankers’s payout ratio is 7.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TNK. Tucker Asset Management LLC purchased a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $38,000. EntryPoint Capital LLC boosted its stake in Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 378 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Teekay Tankers by 666.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock worth $62,000 after acquiring an additional 1,300 shares in the last quarter. Assetmark Inc. increased its position in shares of Teekay Tankers by 175.0% in the 3rd quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock worth $63,000 after purchasing an additional 961 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Teekay Tankers in the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

About Teekay Tankers

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.