Teekay Tankers (NYSE:TNK) Trading Down 3.9% - Should You Sell?

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) shares fell 3.9% on Wednesday . The stock traded as low as $37.12 and last traded at $37.39. 161,375 shares were traded during mid-day trading, a decline of 68% from the average session volume of 502,184 shares. The stock had previously closed at $38.89.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TNK. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. Bank of America restated an "underperform" rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Teekay Tankers Price Performance

The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 3.38 and a beta of -0.44. The stock's 50 day simple moving average is $41.29 and its two-hundred day simple moving average is $46.47.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. The company had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. As a group, analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

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Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers's payout ratio is 8.83%.

Hedge Funds Weigh In On Teekay Tankers

Hedge funds have recently modified their holdings of the stock. Foundry Partners LLC raised its stake in Teekay Tankers by 89.3% during the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company's stock worth $6,156,000 after acquiring an additional 49,853 shares in the last quarter. Barclays PLC increased its position in shares of Teekay Tankers by 273.7% during the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after purchasing an additional 23,051 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Teekay Tankers by 261.7% during the 3rd quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company's stock valued at $2,655,000 after purchasing an additional 32,983 shares during the last quarter. Principal Financial Group Inc. boosted its position in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock valued at $52,815,000 after buying an additional 80,217 shares in the last quarter. Finally, ABC Arbitrage SA bought a new stake in Teekay Tankers during the fourth quarter worth about $372,000. 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.