Denali Advisors LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,400 shares of the shipping company's stock, valued at approximately $2,204,000. Denali Advisors LLC owned about 0.16% of Teekay Tankers as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. US Bancorp DE bought a new stake in Teekay Tankers in the third quarter valued at approximately $231,000. Principal Financial Group Inc. lifted its stake in shares of Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock worth $52,815,000 after buying an additional 80,217 shares during the last quarter. Summit Global Investments grew its holdings in Teekay Tankers by 14.8% in the 3rd quarter. Summit Global Investments now owns 24,927 shares of the shipping company's stock valued at $1,452,000 after buying an additional 3,208 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Teekay Tankers in the third quarter valued at approximately $377,000. Finally, Versor Investments LP bought a new position in Teekay Tankers in the 3rd quarter valued at about $720,000. Institutional investors and hedge funds own 52.67% of the company's stock.
Wall Street Analysts Forecast Growth
TNK has been the subject of several research reports. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. Bank of America reiterated an "underperform" rating and issued a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teekay Tankers has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.
Get Our Latest Analysis on Teekay Tankers
Teekay Tankers Price Performance
NYSE:TNK traded down $0.07 during mid-day trading on Friday, hitting $37.75. 354,365 shares of the company's stock were exchanged, compared to its average volume of 503,038. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20. The company has a market cap of $1.29 billion, a PE ratio of 3.33 and a beta of -0.43. The business has a fifty day moving average price of $41.42 and a 200 day moving average price of $47.12.
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, 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 business had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. On average, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, March 3rd. Teekay Tankers's dividend payout ratio (DPR) is currently 8.83%.
Teekay Tankers Profile
(
Free Report)
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.
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