Dauntless Investment Group LLC Purchases New Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Dauntless Investment Group LLC purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,840 shares of the shipping company's stock, valued at approximately $431,000. Teekay Tankers comprises approximately 0.5% of Dauntless Investment Group LLC's portfolio, making the stock its 26th largest holding.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Teekay Tankers by 7.8% in the fourth quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company's stock valued at $36,394,000 after buying an additional 66,332 shares during the period. Principal Financial Group Inc. grew its stake in shares of Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock worth $52,815,000 after purchasing an additional 80,217 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Teekay Tankers by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock valued at $23,970,000 after purchasing an additional 10,900 shares during the period. Geode Capital Management LLC raised its position in Teekay Tankers by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock worth $12,771,000 after purchasing an additional 2,978 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in Teekay Tankers during the 4th quarter worth about $8,980,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Trading Up 3.9 %

NYSE TNK traded up $1.58 during mid-day trading on Friday, hitting $42.32. The company's stock had a trading volume of 714,046 shares, compared to its average volume of 376,159. The company's 50 day simple moving average is $38.28 and its 200 day simple moving average is $41.76. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.20. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 3.74 and a beta of -0.16.

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

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors 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 2.36%. Teekay Tankers's dividend payout ratio (DPR) is currently 8.83%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TNK shares. Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. Evercore ISI lowered their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

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.