Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) shares were down 3.4% during mid-day trading on Friday . The stock traded as low as $39.79 and last traded at $39.85. Approximately 169,515 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 366,275 shares. The stock had previously closed at $41.25.
Analysts Set New Price Targets
A number of equities analysts have recently commented on TNK shares. Jefferies Financial Group cut their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds raised shares of Teekay Tankers to a "strong-buy" rating in a research report on Friday, September 27th. StockNews.com initiated coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a "hold" rating on the stock. Finally, Bank of America reissued an "underperform" rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.67.
View Our Latest Analysis on Teekay Tankers
Teekay Tankers Price Performance
The stock's fifty day moving average is $41.76 and its 200-day moving average is $53.37. The stock has a market capitalization of $1.37 billion, a P/E ratio of 3.28, a PEG ratio of 1.13 and a beta of -0.39.
Teekay Tankers Announces Dividend
The business 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. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 annualized dividend and a yield of 2.51%. Teekay Tankers's dividend payout ratio is 8.21%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Teekay Tankers in the 2nd quarter worth approximately $43,000. CWM LLC raised its holdings in Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after acquiring an additional 482 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Teekay Tankers during the 3rd quarter worth about $132,000. US Bancorp DE bought a new stake in Teekay Tankers in the third quarter valued at approximately $231,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Teekay Tankers during the second quarter worth $237,000. 52.67% of the stock is owned by institutional investors.
About Teekay Tankers
(
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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.
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