TNK

Teekay Tankers Ltd - (TNK) Price Target Increased by 11.99% to 65.11

The average one-year price target for Teekay Tankers Ltd - (NYSE:TNK) has been revised to 65.11 / share. This is an increase of 11.99% from the prior estimate of 58.14 dated October 31, 2023.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 56.56 to a high of 76.65 / share. The average price target represents an increase of 25.24% from the latest reported closing price of 51.99 / share.

Teekay Tankers Ltd - Declares $0.25 Dividend

On November 2, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of November 14, 2023 received the payment on November 27, 2023. Previously, the company paid $0.25 per share.

At the current share price of $51.99 / share, the stock's dividend yield is 1.92%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.11%, the lowest has been 0.26%, and the highest has been 3.74%. The standard deviation of yields is 0.89 (n=97).

The current dividend yield is 0.92 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

What is the Fund Sentiment?

There are 391 funds or institutions reporting positions in Teekay Tankers Ltd -. This is an increase of 45 owner(s) or 13.01% in the last quarter. Average portfolio weight of all funds dedicated to TNK is 0.12%, an increase of 4.28%. Total shares owned by institutions increased in the last three months by 3.58% to 19,673K shares. TNK / Teekay Tankers Ltd - Class A Put/Call Ratios The put/call ratio of TNK is 0.94, indicating a bullish outlook.

What are Other Shareholders Doing?

TNK / Teekay Tankers Ltd - Class A Shares Held by Institutions

Millennium Management holds 641K shares representing 1.88% ownership of the company. In it's prior filing, the firm reported owning 774K shares, representing a decrease of 20.75%. The firm decreased its portfolio allocation in TNK by 7.70% over the last quarter.

Principal Financial Group holds 597K shares representing 1.75% ownership of the company. In it's prior filing, the firm reported owning 390K shares, representing an increase of 34.60%. The firm decreased its portfolio allocation in TNK by 2.62% over the last quarter.

Marshall Wace, Llp holds 563K shares representing 1.65% ownership of the company. In it's prior filing, the firm reported owning 656K shares, representing a decrease of 16.44%. The firm decreased its portfolio allocation in TNK by 39.50% over the last quarter.

IWM - iShares Russell 2000 ETF holds 556K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 540K shares, representing an increase of 2.86%. The firm increased its portfolio allocation in TNK by 17.28% over the last quarter.

Goldman Sachs Group holds 537K shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 710K shares, representing a decrease of 32.18%. The firm decreased its portfolio allocation in TNK by 77.67% over the last quarter.

Teekay Tankers Background Information
(This description is provided by the company.)

Teekay Tankers currently has a fleet of 52 double-hull tankers (including 26 Suezmax tankers, 17 Aframax tankers and nine LR2 product tankers), and also has four time chartered-in tankers. Teekay Tankers' vessels are typically employed through a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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