Teekay Tankers Ltd. (TNK) To Go Ex-Dividend on November 12th

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, October 30th,Wall Street Journal reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.25 per share by the shipping company on Friday, November 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th.

Teekay Tankers has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teekay Tankers to earn $10.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 9.1%.

Teekay Tankers Stock Down 2.7 %

Shares of Teekay Tankers stock opened at $45.49 on Friday. Teekay Tankers has a 12-month low of $44.79 and a 12-month high of $74.20. The firm has a market capitalization of $1.56 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 1.32 and a beta of -0.32. The stock’s fifty day moving average is $54.36 and its 200-day moving average is $60.82.

Analysts Set New Price Targets

TNK has been the subject of several research reports. Evercore ISI raised their price target on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and set a $72.00 price target on shares of Teekay Tankers in a report on Thursday, October 31st. Bank of America downgraded shares of Teekay Tankers from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $51.00 in a research note on Friday, November 1st. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research report on Friday, September 27th. Finally, StockNews.com started coverage on Teekay Tankers in a research report on Thursday, October 10th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.33.

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.