Teekay Tankers’ (TNK) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Teekay Tankers (NYSE:TNK) in a research report released on Thursday,Benzinga reports. They currently have a $55.00 target price on the shipping company’s stock.

Separately, Bank of America reissued an “underperform” rating and set a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $40.13 on Thursday. Teekay Tankers has a 12 month low of $36.04 and a 12 month high of $74.20. The company has a market cap of $1.38 billion, a PE ratio of 3.55 and a beta of -0.43. The company has a fifty day moving average price of $41.24 and a two-hundred day moving average price of $47.68.

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

Teekay Tankers Dividend Announcement

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

Institutional Investors Weigh In On Teekay Tankers

Several institutional investors have recently bought and sold shares of TNK. CWM LLC lifted its holdings in Teekay Tankers by 96.8% in the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after purchasing an additional 482 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Teekay Tankers by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after purchasing an additional 277 shares during the period. Custom Index Systems LLC lifted its holdings in Teekay Tankers by 4.0% in the third quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock worth $329,000 after purchasing an additional 216 shares during the period. US Bancorp DE acquired a new stake in Teekay Tankers in the third quarter worth about $231,000. Finally, Principal Financial Group Inc. lifted its holdings 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 worth $52,815,000 after purchasing an additional 80,217 shares during the period. Institutional investors and hedge funds 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.