Teekay Tankers (NYSE:TNK) Stock Price Down 3.3% - What's Next?

Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) shares were down 3.3% during mid-day trading on Tuesday . The stock traded as low as $37.03 and last traded at $36.33. Approximately 14,715 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 361,421 shares. The stock had previously closed at $37.55.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. 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 company's stock. Based on data from MarketBeat.com, Teekay Tankers presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Teekay Tankers Price Performance

The business's 50-day simple moving average is $38.75 and its two-hundred day simple moving average is $43.18. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 3.47 and a beta of -0.16.

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

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Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's dividend payout ratio is currently 8.83%.

Institutional Investors Weigh In On Teekay Tankers

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Teekay Tankers in the fourth quarter worth $41,000. Meeder Asset Management Inc. bought a new stake in shares of Teekay Tankers in the 4th quarter valued at about $77,000. New Age Alpha Advisors LLC acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at about $132,000. BNP Paribas Financial Markets bought a new position in shares of Teekay Tankers during the fourth quarter worth about $143,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Teekay Tankers by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after acquiring an additional 286 shares during the period. 52.67% of the stock is currently 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.