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

Shares of Teekay Tankers Ltd. (NYSE:TNK) hit a new 52-week low on Monday . The company 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

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

Teekay Tankers Price Performance

The stock has a 50 day simple moving average of $50.66 and a 200-day simple moving average of $58.70. The firm has a market cap of $1.35 billion, a PE ratio of 3.30, a PEG ratio of 1.20 and a beta of -0.32.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers’s payout ratio is 8.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in Teekay Tankers during the second quarter valued at $1,775,000. Foundry Partners LLC raised its stake in shares of Teekay Tankers by 89.3% in the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock worth $6,156,000 after purchasing an additional 49,853 shares during the last quarter. Shariaportfolio Inc. purchased a new position in shares of Teekay Tankers in the third quarter worth $3,498,000. Bank of New York Mellon Corp raised its stake in shares of 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 last quarter. Finally, Unison Advisors LLC purchased a new position in shares of Teekay Tankers in the third quarter worth $740,000. 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.