Teekay Tankers (NYSE:TNK) Given New $85.00 Price Target at Evercore ISI

Teekay Tankers (NYSE:TNK) had its price objective upped by Evercore ISI from $84.00 to $85.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the shipping company’s stock.

Several other analysts have also recently issued reports on TNK. Jefferies Financial Group upped their price objective on Teekay Tankers from $70.00 to $76.00 and gave the stock a buy rating in a report on Thursday, May 9th. StockNews.com raised Teekay Tankers from a hold rating to a buy rating in a report on Friday, May 17th. Finally, Bank of America upped their price objective on Teekay Tankers from $66.00 to $79.00 and gave the stock a buy rating in a report on Friday, May 10th.

Teekay Tankers Trading Down 0.4 %

Shares of NYSE:TNK opened at $62.61 on Tuesday. The stock has a 50 day moving average of $68.09 and a 200 day moving average of $61.69. The company has a market cap of $2.15 billion, a PE ratio of 4.43, a price-to-earnings-growth ratio of 1.55 and a beta of -0.28. Teekay Tankers has a 12-month low of $37.20 and a 12-month high of $74.20.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.16. Teekay Tankers had a return on equity of 30.73% and a net margin of 37.39%. The company had revenue of $221.81 million during the quarter. Equities research analysts predict that Teekay Tankers will post 13.78 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently declared a None dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a yield of 1.5%. Teekay Tankers’s payout ratio is presently 7.07%.

Institutional Trading of Teekay Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in Teekay Tankers by 30.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,714 shares of the shipping company’s stock worth $1,976,000 after purchasing an additional 6,656 shares during the period. Bank of New York Mellon Corp increased its stake in Teekay Tankers by 16.4% in the second quarter. Bank of New York Mellon Corp now owns 81,856 shares of the shipping company’s stock worth $5,633,000 after purchasing an additional 11,535 shares during the period. Fifth Third Bancorp increased its stake in Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after purchasing an additional 456 shares during the period. Nisa Investment Advisors LLC increased its stake in Teekay Tankers by 11,234.2% in the second quarter. Nisa Investment Advisors LLC now owns 4,307 shares of the shipping company’s stock worth $296,000 after purchasing an additional 4,269 shares during the period. Finally, Blue Trust Inc. increased its stake in Teekay Tankers by 14.7% in the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after purchasing an additional 172 shares during the period. 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.