Credit Industriel ET Commercial Purchases Shares of 29,583 Teekay Tankers Ltd. (NYSE:TNK)

Credit Industriel ET Commercial acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,583 shares of the shipping company's stock, valued at approximately $1,177,000. Credit Industriel ET Commercial owned 0.09% of Teekay Tankers as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its position in Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after acquiring an additional 286 shares during the last quarter. Kendall Capital Management boosted its holdings in shares of Teekay Tankers by 3.3% during the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock worth $715,000 after purchasing an additional 580 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Teekay Tankers by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock worth $420,000 after purchasing an additional 686 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Teekay Tankers by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 14,901 shares of the shipping company's stock valued at $593,000 after purchasing an additional 834 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Trading Up 3.9 %

NYSE TNK traded up $1.58 during trading hours on Friday, reaching $42.32. The company had a trading volume of 714,046 shares, compared to its average volume of 376,159. The stock has a market capitalization of $1.45 billion, a P/E ratio of 3.74 and a beta of -0.16. The stock has a 50-day moving average of $38.28 and a 200 day moving average of $41.76. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $158.26 million. As a group, sell-side analysts predict 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 was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.36%. Teekay Tankers's dividend payout ratio (DPR) is 8.83%.

Wall Street Analyst Weigh In

TNK has been the subject of several analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, February 20th. Evercore ISI dropped their price objective on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Teekay Tankers presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

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.