Franklin Resources Inc. acquired a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 128,957 shares of the shipping company's stock, valued at approximately $5,131,000. Franklin Resources Inc. owned about 0.38% of Teekay Tankers at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Teekay Tankers during the third quarter worth $329,000. Barclays PLC grew its holdings in Teekay Tankers by 273.7% in the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock valued at $1,833,000 after buying an additional 23,051 shares in the last quarter. Geode Capital Management LLC raised its holdings in Teekay Tankers by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company's stock valued at $18,542,000 after acquiring an additional 2,403 shares in the last quarter. Principal Financial Group Inc. increased its stake 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 valued at $52,815,000 after purchasing an additional 80,217 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company's stock worth $307,000 after buying an additional 2,248 shares in the last quarter. Institutional investors own 52.67% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, 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. 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.
Get Our Latest Research Report on Teekay Tankers
Teekay Tankers Stock Up 1.6 %
TNK stock traded up $0.61 during midday trading on Wednesday, hitting $38.00. The company's stock had a trading volume of 59,670 shares, compared to its average volume of 366,455. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20. The stock's 50-day moving average price is $38.55 and its 200 day moving average price is $42.89. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 3.35 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, 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 business had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. As a group, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.
Teekay Tankers Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's payout ratio is 8.83%.
About Teekay Tankers
(
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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