Teekay Tankers Ltd. (NYSE:TNK) Plans $0.25 Quarterly Dividend

Teekay Tankers Ltd. (NYSE:TNKGet Free Report) announced a quarterly dividend on Thursday, February 22nd, Zacks reports. Shareholders of record on Monday, March 4th will be paid a dividend of 0.25 per share by the shipping company on Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, March 1st.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $55.08 on Thursday. The business’s fifty day moving average price is $56.28 and its two-hundred day moving average price is $49.05. The stock has a market cap of $1.88 billion, a PE ratio of 3.71, a price-to-earnings-growth ratio of 1.38 and a beta of -0.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. Teekay Tankers has a one year low of $35.00 and a one year high of $64.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Teekay Tankers by 41.9% in the first quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 301 shares during the period. Point72 Asset Management L.P. purchased a new position in Teekay Tankers in the fourth quarter valued at about $46,000. Citigroup Inc. raised its position in Teekay Tankers by 157.0% in the first quarter. Citigroup Inc. now owns 1,537 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 939 shares during the period. Quarry LP purchased a new position in Teekay Tankers in the second quarter valued at about $67,000. Finally, Tower Research Capital LLC TRC raised its position in Teekay Tankers by 640.9% in the third quarter. Tower Research Capital LLC TRC now owns 3,082 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 2,666 shares during the period. Institutional investors and hedge funds own 48.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price on shares of Teekay Tankers in a report on Thursday, February 22nd. Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $72.00 in a report on Friday, January 19th. StockNews.com cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Evercore ISI decreased their price objective on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd.

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About Teekay Tankers

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Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

See Also

Dividend History for Teekay Tankers (NYSE:TNK)

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