Moors & Cabot Inc. Makes New Investment in Teekay Tankers Ltd. (NYSE:TNK)

Moors & Cabot Inc. bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,800 shares of the shipping company's stock, valued at approximately $589,000.

Other large investors also recently made changes to their positions in the company. Entropy Technologies LP acquired a new position in Teekay Tankers in the third quarter worth approximately $269,000. Victory Capital Management Inc. increased its holdings in Teekay Tankers by 261.7% in the third quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company's stock worth $2,655,000 after buying an additional 32,983 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Teekay Tankers in the third quarter worth approximately $503,000. Segall Bryant & Hamill LLC increased its holdings in Teekay Tankers by 3.5% in the third quarter. Segall Bryant & Hamill LLC now owns 78,644 shares of the shipping company's stock worth $4,581,000 after buying an additional 2,639 shares during the last quarter. Finally, Foundry Partners LLC increased its holdings in 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 buying an additional 49,853 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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Teekay Tankers Stock Up 2.3 %

TNK stock traded up $0.90 during midday trading on Wednesday, hitting $39.52. 253,085 shares of the company traded hands, compared to its average volume of 343,172. Teekay Tankers Ltd. has a twelve month low of $35.23 and a twelve month high of $74.20. The business has a 50 day simple moving average of $40.87 and a 200-day simple moving average of $45.50. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 3.49 and a beta of -0.44.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $158.26 million. Equities research analysts forecast 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.53%. Teekay Tankers's dividend payout ratio (DPR) is presently 8.83%.

Teekay Tankers Profile

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.