Teekay Tankers (NYSE:TNK) Reaches New 12-Month Low – Should You Sell?

Teekay Tankers Ltd. (NYSE:TNK) shares hit a new 52-week low during trading on Monday . The stock traded as low as $39.77 and last traded at $39.77, with a volume of 18226 shares traded. The stock had previously closed at $40.25.

Analyst Ratings Changes

Several research firms recently commented on TNK. StockNews.com started coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating for the company. Jefferies Financial Group decreased their price target on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Bank of America restated an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Finally, Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Stock Performance

The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 3.40, a PEG ratio of 1.19 and a beta of -0.39. The firm’s 50-day moving average price is $50.33 and its two-hundred day moving average price is $58.47.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Teekay Tankers’s dividend payout ratio (DPR) is 8.21%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TNK. Vanguard Group Inc. raised its position in Teekay Tankers by 9.1% in the first quarter. Vanguard Group Inc. now owns 187,115 shares of the shipping company’s stock valued at $10,929,000 after purchasing an additional 15,537 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Teekay Tankers by 16.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,833 shares of the shipping company’s stock valued at $400,000 after buying an additional 964 shares during the period. Tidal Investments LLC lifted its position in Teekay Tankers by 18.4% in the first quarter. Tidal Investments LLC now owns 13,605 shares of the shipping company’s stock valued at $795,000 after buying an additional 2,115 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Teekay Tankers by 10.0% during the second quarter. Linden Thomas Advisory Services LLC now owns 8,658 shares of the shipping company’s stock worth $596,000 after buying an additional 784 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Teekay Tankers during the second quarter valued at about $204,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

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.