Dynamic Technology Lab Private Ltd Buys Shares of 7,796 Teekay Tankers Ltd. (NYSE:TNK)

Dynamic Technology Lab Private Ltd bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,796 shares of the shipping company's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also modified their holdings of TNK. Barclays PLC increased its stake in Teekay Tankers by 273.7% during the third quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after acquiring an additional 23,051 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Teekay Tankers by 9.7% in the 3rd 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. Franklin Resources Inc. bought a new position in Teekay Tankers during the 4th quarter worth approximately $5,131,000. ABC Arbitrage SA bought a new position in Teekay Tankers during the fourth quarter worth $372,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Teekay Tankers in the 4th quarter valued at about $629,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Trading Up 1.8 %

NYSE:TNK traded up $0.67 during midday trading on Wednesday, hitting $38.06. 72,041 shares of the stock were exchanged, compared to its average volume of 482,275. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $74.20. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 3.36 and a beta of -0.16. The business has a 50-day moving average price of $38.55 and a two-hundred day moving average price of $42.89.

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Teekay Tankers (NYSE:TNK - Get Free Report) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. The business had revenue of $163.42 million for the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. Sell-side analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.63%. Teekay Tankers's dividend payout ratio is currently 8.83%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a "buy" rating and set a $55.00 price objective 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and a consensus price target 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.