Teekay Tankers’ (TNK) Buy Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Teekay Tankers (NYSE:TNK) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $55.00 price objective on the shipping company’s stock.

Separately, Bank of America reaffirmed an “underperform” rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teekay Tankers presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Trading Down 0.7 %

Shares of TNK stock opened at $40.38 on Thursday. Teekay Tankers has a 12 month low of $36.04 and a 12 month high of $74.20. The stock has a market cap of $1.39 billion, a P/E ratio of 3.57 and a beta of -0.43. The company has a 50 day simple moving average of $41.20 and a two-hundred day simple moving average of $47.85.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.84%. The business had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. As a group, equities analysts forecast that Teekay Tankers will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Institutional Trading of Teekay Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Teekay Tankers in the fourth quarter worth $1,540,000. Voloridge Investment Management LLC boosted its position in shares of Teekay Tankers by 1,352.3% during the fourth quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company’s stock worth $9,658,000 after acquiring an additional 226,001 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Teekay Tankers by 39.8% during the fourth quarter. Vident Advisory LLC now owns 12,890 shares of the shipping company’s stock worth $513,000 after acquiring an additional 3,668 shares during the last quarter. Wexford Capital LP boosted its position in shares of Teekay Tankers by 276.1% during the fourth quarter. Wexford Capital LP now owns 53,899 shares of the shipping company’s stock worth $2,145,000 after acquiring an additional 39,567 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Teekay Tankers during the fourth quarter worth $1,778,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

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.