Amundi Invests $325,000 in Teekay Tankers Ltd. (NYSE:TNK)

Amundi acquired a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,727 shares of the shipping company's stock, valued at approximately $325,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Teekay Tankers during the 4th quarter worth approximately $41,000. Millburn Ridgefield Corp purchased a new position in Teekay Tankers in the third quarter worth $132,000. Steward Partners Investment Advisory LLC lifted its holdings in Teekay Tankers by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after acquiring an additional 286 shares during the period. Ieq Capital LLC purchased a new stake in shares of Teekay Tankers during the 4th quarter worth $247,000. Finally, ClearAlpha Technologies LP acquired a new position in shares of Teekay Tankers during the 3rd quarter worth $255,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Performance

TNK stock traded down $0.62 during midday trading on Tuesday, hitting $38.36. 244,295 shares of the stock were exchanged, compared to its average volume of 344,452. The stock's 50-day moving average price is $40.48 and its 200-day moving average price is $45.07. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 3.39 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Research analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Monday, March 3rd. Teekay Tankers's dividend payout ratio (DPR) is presently 8.83%.

Wall Street Analysts Forecast Growth

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

Teekay Tankers Company 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.