Teekay Tankers (NYSE:TNK) Sets New 1-Year Low - Here's Why

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $35.94 and last traded at $36.23, with a volume of 45047 shares. The stock had previously closed at $36.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, February 20th. Bank of America reiterated an "underperform" rating and issued a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Teekay Tankers Stock Performance

The company has a market capitalization of $1.28 billion, a P/E ratio of 3.27 and a beta of -0.44. The company's fifty day simple moving average is $41.10 and its 200-day simple moving average is $46.07.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted 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. The company had revenue of $163.42 million during the quarter, compared to analysts' expectations of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. On average, sell-side analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

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Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.69%. Teekay Tankers's payout ratio is 8.83%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Teekay Tankers in the 4th quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new stake in Teekay Tankers during the fourth quarter worth $77,000. Millburn Ridgefield Corp acquired a new stake in Teekay Tankers during the third quarter valued at $132,000. New Age Alpha Advisors LLC purchased a new position in Teekay Tankers in the fourth quarter valued at $132,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Teekay Tankers in the fourth quarter worth about $143,000. 52.67% of the stock is owned by institutional investors and hedge funds.

About Teekay Tankers

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.