Great Lakes Advisors LLC boosted its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 29.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,851 shares of the shipping company's stock after buying an additional 15,477 shares during the quarter. Great Lakes Advisors LLC owned 0.20% of Teekay Tankers worth $2,740,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of TNK. Foundry Partners LLC increased its position in shares of Teekay Tankers by 89.3% during the 3rd quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company's stock valued at $6,156,000 after purchasing an additional 49,853 shares during the last quarter. Barclays PLC increased its position in shares of Teekay Tankers by 273.7% during the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock valued at $1,833,000 after purchasing an additional 23,051 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Teekay Tankers by 261.7% during the 3rd quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company's stock valued at $2,655,000 after purchasing an additional 32,983 shares during the last quarter. Principal Financial Group Inc. increased its position 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 valued at $52,815,000 after purchasing an additional 80,217 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of Teekay Tankers during the 4th quarter valued at about $372,000. Hedge funds and other institutional investors own 52.67% of the company's stock.
Teekay Tankers Stock Up 2.3 %
TNK stock traded up $0.90 during midday trading on Wednesday, hitting $39.52. The company's stock had a trading volume of 253,187 shares, compared to its average volume of 343,172. Teekay Tankers Ltd. has a 12 month low of $35.23 and a 12 month high of $74.20. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 3.49 and a beta of -0.44. The company has a 50 day moving average of $40.87 and a two-hundred day moving average of $45.50.
Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping 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 the consensus estimate of $158.26 million. On average, analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.
Teekay Tankers Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.53%. Teekay Tankers's payout ratio is 8.83%.
Analysts Set New Price Targets
Separately, Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.
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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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