Teekay Tankers (NYSE:TNK) Trading 6.5% Higher - Still a Buy?

Shares of Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) were up 6.5% during trading on Tuesday . The stock traded as high as $42.67 and last traded at $42.50. Approximately 142,764 shares traded hands during trading, a decline of 62% from the average daily volume of 378,193 shares. The stock had previously closed at $39.91.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Fearnley Fonds upgraded shares of Teekay Tankers to a "strong-buy" rating in a research note on Friday, September 27th. Bank of America restated 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. StockNews.com began coverage on Teekay Tankers in a research report on Thursday, October 10th. They issued a "hold" rating for the company. Finally, Jefferies Financial Group dropped their price target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.67.

Teekay Tankers Price Performance

The business has a 50-day moving average of $41.57 and a 200 day moving average of $52.98. The company has a market cap of $1.46 billion, a PE ratio of 3.50, a PEG ratio of 1.13 and a beta of -0.40.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. Teekay Tankers's dividend payout ratio is currently 8.21%.

Institutional Trading of Teekay Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Teekay Tankers during the second quarter valued at about $43,000. CWM LLC boosted its holdings 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 purchasing an additional 482 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Teekay Tankers during the third quarter valued at about $132,000. US Bancorp DE purchased a new stake in shares of Teekay Tankers in the third quarter worth about $231,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Teekay Tankers during the second quarter valued at approximately $237,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Company Profile

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.