Teekay Tankers (NYSE:TNK) Stock Price Down 3.9% – Should You Sell?

Teekay Tankers Ltd. (NYSE:TNK)’s share price fell 3.9% during trading on Wednesday . The stock traded as low as $37.12 and last traded at $37.39. 161,375 shares traded hands 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.

Analyst Ratings Changes

TNK has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, February 20th. Bank of America reiterated an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Stock Down 4.8 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 3.27 and a beta of -0.44. The company has a fifty day moving average price of $41.37 and a two-hundred day moving average price of $46.80.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm 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%. On average, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Institutional Trading of Teekay Tankers

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in shares of Teekay Tankers during the third quarter worth $231,000. Principal Financial Group Inc. lifted 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 purchasing an additional 80,217 shares during the period. Summit Global Investments increased its position in Teekay Tankers by 14.8% during the 3rd quarter. Summit Global Investments now owns 24,927 shares of the shipping company’s stock worth $1,452,000 after purchasing an additional 3,208 shares during the period. CWA Asset Management Group LLC acquired a new position in Teekay Tankers during the 3rd quarter worth approximately $377,000. Finally, Versor Investments LP purchased a new position in shares of Teekay Tankers during the 3rd quarter worth approximately $720,000. 52.67% of the stock is owned by institutional investors and hedge funds.

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.