Diametric Capital LP Purchases New Position in Teekay Tankers Ltd. (NYSE:TNK)

Diametric Capital LP bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,558 shares of the shipping company's stock, valued at approximately $301,000.

Several other large investors have also modified their holdings of the business. R Squared Ltd purchased a new stake in Teekay Tankers in the 4th quarter valued at about $41,000. Meeder Asset Management Inc. acquired a new stake in shares of Teekay Tankers during the fourth quarter valued at about $77,000. Millburn Ridgefield Corp purchased a new stake in shares of Teekay Tankers in the 3rd quarter valued at approximately $132,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers in the 4th quarter worth approximately $132,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Down 6.0 %

Teekay Tankers stock traded down $2.18 during mid-day trading on Friday, reaching $34.46. 1,165,409 shares of the company's stock were exchanged, compared to its average volume of 360,358. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.20. The company has a market cap of $1.18 billion, a P/E ratio of 3.04 and a beta of -0.16. The company has a fifty day moving average of $39.48 and a 200-day moving average of $44.16.

Remove Ads

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $158.26 million. Equities research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Monday, March 3rd. Teekay Tankers's dividend payout ratio is presently 8.83%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, February 20th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, Teekay Tankers presently has an average rating of "Moderate Buy" and an average target price of $62.00.

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.