Teekay Tankers (NYSE:TNK) Given New $60.00 Price Target at Jefferies Financial Group

Teekay Tankers (NYSE:TNK) had its price objective decreased by Jefferies Financial Group from $72.00 to $60.00 in a research note issued to investors on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the shipping company’s stock.

Other research analysts have also recently issued research reports about the company. Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. Evercore ISI lifted their price objective on Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America reiterated an “underperform” rating and set a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Finally, StockNews.com started coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.67.

Teekay Tankers Stock Down 3.6 %

NYSE:TNK opened at $43.21 on Thursday. The company has a market cap of $1.48 billion, a P/E ratio of 3.55, a P/E/G ratio of 1.29 and a beta of -0.32. The firm’s 50 day moving average is $53.35 and its two-hundred day moving average is $60.36. Teekay Tankers has a fifty-two week low of $43.17 and a fifty-two week high of $74.20.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, November 12th. Teekay Tankers’s payout ratio is 8.21%.

Institutional Investors Weigh In On Teekay Tankers

Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in Teekay Tankers in the 2nd quarter worth approximately $1,775,000. Shariaportfolio Inc. acquired a new stake in Teekay Tankers during the 3rd quarter valued at $3,498,000. O Shaughnessy Asset Management LLC increased its stake in Teekay Tankers by 51.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 57,846 shares of the shipping company’s stock worth $3,379,000 after buying an additional 19,752 shares during the period. Bank of New York Mellon Corp lifted its holdings in Teekay Tankers by 16.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,856 shares of the shipping company’s stock worth $5,633,000 after buying an additional 11,535 shares in the last quarter. Finally, Unison Advisors LLC purchased a new position in Teekay Tankers in the 3rd quarter valued at about $740,000. Institutional investors and hedge funds 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.