BidaskClub upgraded shares of Teekay Tankers Ltd. (NYSE:TNK) from a strong sell rating to a sell rating in a report issued on Wednesday.
Several other research firms also recently weighed in on TNK. Zacks Investment Research upgraded Teekay Tankers from a sell rating to a hold rating in a research report on Wednesday, June 21st. Bank of America Corporation restated an underperform rating and issued a $1.80 price objective (down from $2.25) on shares of Teekay Tankers in a research report on Wednesday, May 17th. ValuEngine downgraded Teekay Tankers from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, UBS AG restated a sell rating and issued a $1.50 price objective (down from $2.00) on shares of Teekay Tankers in a research report on Friday, June 9th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Teekay Tankers currently has an average rating of Hold and a consensus target price of $2.31.
Shares of Teekay Tankers (NYSE TNK) traded up 2.40% during midday trading on Wednesday, reaching $1.71. The company had a trading volume of 1,065,460 shares. The company has a market capitalization of $282.83 million, a P/E ratio of 10.12 and a beta of 2.24. The company has a 50-day moving average price of $1.76 and a 200 day moving average price of $2.05. Teekay Tankers has a one year low of $1.65 and a one year high of $3.12.
Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, August 3rd. The shipping company reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The business had revenue of $89.40 million during the quarter, compared to analyst estimates of $80.68 million. Teekay Tankers had a positive return on equity of 0.39% and a negative net margin of 7.38%. The company’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. Equities analysts anticipate that Teekay Tankers will post ($0.03) earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 14th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 7.02%. Teekay Tankers’s dividend payout ratio is -63.16%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Teekay Tankers by 2,453.3% in the first quarter. JPMorgan Chase & Co. now owns 79,636 shares of the shipping company’s stock worth $163,000 after buying an additional 76,517 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Teekay Tankers by 19.0% in the first quarter. Parametric Portfolio Associates LLC now owns 146,641 shares of the shipping company’s stock worth $301,000 after buying an additional 23,438 shares in the last quarter. TFS Capital LLC boosted its position in shares of Teekay Tankers by 21.4% in the first quarter. TFS Capital LLC now owns 125,293 shares of the shipping company’s stock valued at $257,000 after buying an additional 22,054 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Teekay Tankers during the first quarter valued at about $186,000. Finally, Grisanti Capital Management LLC boosted its position in shares of Teekay Tankers by 49.8% in the first quarter. Grisanti Capital Management LLC now owns 90,000 shares of the shipping company’s stock valued at $185,000 after buying an additional 29,900 shares during the period. 41.29% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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