Teekay Tankers (NYSE:TNK) Trading Up 5.2% – Should You Buy?

Teekay Tankers Ltd. (NYSE:TNK) shares were up 5.2% during trading on Monday . The stock traded as high as $48.37 and last traded at $47.72. Approximately 192,780 shares traded hands during trading, a decline of 59% from the average daily volume of 475,341 shares. The stock had previously closed at $45.36.

Analyst Ratings Changes

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

Teekay Tankers Stock Up 0.2 %

The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 3.88, a P/E/G ratio of 1.13 and a beta of -0.40. The company has a 50-day moving average price of $41.21 and a 200-day moving average price of $52.06.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio is currently 8.21%.

Institutional Trading of Teekay Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Teekay Tankers by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,059,543 shares of the shipping company’s stock valued at $141,723,000 after buying an additional 13,330 shares during the period. FMR LLC lifted its position in shares of Teekay Tankers by 9.2% in the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock worth $86,249,000 after acquiring an additional 124,659 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock worth $52,815,000 after purchasing an additional 80,217 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Teekay Tankers by 15.0% in the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock valued at $49,495,000 after purchasing an additional 93,788 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Teekay Tankers by 20.9% in the second quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company’s stock worth $49,172,000 after purchasing an additional 123,500 shares during the period. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Company Profile

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.