Fox Run Management L.L.C. Purchases Shares of 14,640 Teekay Tankers Ltd. (NYSE:TNK)

Fox Run Management L.L.C. purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,640 shares of the shipping company's stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds have also modified their holdings of TNK. Royce & Associates LP acquired a new stake in Teekay Tankers during the 4th quarter worth $8,980,000. Empowered Funds LLC bought a new position in shares of Teekay Tankers in the 4th quarter worth $7,248,000. FMR LLC grew its stake in shares of Teekay Tankers by 9.2% during the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock worth $86,249,000 after purchasing an additional 124,659 shares during the period. Principal Financial Group Inc. increased its holdings in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock valued at $52,815,000 after purchasing an additional 80,217 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Teekay Tankers by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company's stock valued at $17,867,000 after buying an additional 72,798 shares during the period. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Stock Up 1.3 %

Teekay Tankers stock traded up $0.49 during mid-day trading on Friday, hitting $38.66. 255,627 shares of the company's stock were exchanged, compared to its average volume of 355,296. The company's 50 day simple moving average is $39.90 and its 200-day simple moving average is $44.76. The firm has a market capitalization of $1.33 billion, a P/E ratio of 3.42 and a beta of -0.44. Teekay Tankers Ltd. has a fifty-two week low of $35.23 and a fifty-two week high of $74.20.

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Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The company had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Research analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's payout ratio is currently 8.83%.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.