Teekay Tankers' (TNK) "Buy" Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Teekay Tankers (NYSE:TNK - Free Report) in a report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a $55.00 target price on the shipping company's stock.

Separately, Bank of America reaffirmed an "underperform" rating and issued a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Teekay Tankers presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Teekay Tankers Trading Down 0.4 %

Shares of TNK traded down $0.17 during trading hours on Thursday, reaching $40.13. 601,875 shares of the stock traded hands, compared to its average volume of 514,896. The stock has a fifty day simple moving average of $41.24 and a 200 day simple moving average of $47.74. Teekay Tankers has a 52 week low of $36.04 and a 52 week high of $74.20. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 3.55 and a beta of -0.43.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. The company had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.84%. Analysts predict that Teekay Tankers will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.49%. Teekay Tankers's dividend payout ratio is currently 8.83%.

Hedge Funds Weigh In On Teekay Tankers

Hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new position in Teekay Tankers during the fourth quarter valued at approximately $41,000. CWM LLC grew its stake in Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after buying an additional 482 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Teekay Tankers in the 4th quarter worth approximately $77,000. Millburn Ridgefield Corp purchased a new position in Teekay Tankers in the 3rd quarter worth approximately $132,000. Finally, New Age Alpha Advisors LLC purchased a new position in Teekay Tankers in the 4th quarter worth approximately $132,000. 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.