Teekay Tankers (NYSE:TNK) Shares Up 5.2% - Here's Why

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

Analyst Ratings Changes

Several brokerages have recently weighed in on TNK. StockNews.com began coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They set a "hold" rating on the stock. Jefferies Financial Group dropped their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Fearnley Fonds upgraded shares of Teekay Tankers to a "strong-buy" rating in a report on Friday, September 27th. Finally, Bank of America restated an "underperform" rating and issued a $46.00 target price (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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Teekay Tankers Stock Performance

The company has a market cap of $1.62 billion, a price-to-earnings ratio of 3.87, a price-to-earnings-growth ratio of 1.13 and a beta of -0.40. The stock's fifty day moving average is $41.21 and its two-hundred day moving average is $52.06.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.25 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 annualized dividend and a yield of 2.12%. Teekay Tankers's dividend payout ratio (DPR) is 8.21%.

Institutional Investors Weigh In On Teekay Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Teekay Tankers during the 2nd quarter valued at approximately $43,000. CWM LLC grew its position in shares of Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company's stock valued at $57,000 after acquiring an additional 482 shares during the period. Millburn Ridgefield Corp bought a new position in shares of Teekay Tankers during the 3rd quarter valued at approximately $132,000. US Bancorp DE bought a new position in shares of Teekay Tankers during the 3rd quarter valued at approximately $231,000. Finally, ClearAlpha Technologies LP bought a new position in shares of Teekay Tankers during the 3rd quarter valued at approximately $255,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

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.