Martingale Asset Management L P grew its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,541 shares of the shipping company's stock after purchasing an additional 7,616 shares during the quarter. Martingale Asset Management L P owned approximately 0.19% of Teekay Tankers worth $2,568,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of Teekay Tankers by 7.8% during the 4th quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company's stock valued at $36,394,000 after acquiring an additional 66,332 shares in the last quarter. Principal Financial Group Inc. lifted its position in 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 acquiring an additional 80,217 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Teekay Tankers by 1.8% in the 4th quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock valued at $23,970,000 after buying an additional 10,900 shares during the last quarter. Geode Capital Management LLC raised its holdings in Teekay Tankers by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock valued at $12,771,000 after acquiring an additional 2,978 shares during the period. Finally, Royce & Associates LP bought a new stake in Teekay Tankers during the fourth quarter worth about $8,980,000. Institutional investors and hedge funds own 52.67% of the company's stock.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.00.
Get Our Latest Analysis on Teekay Tankers
Teekay Tankers Stock Performance
Shares of TNK traded up $0.77 during midday trading on Wednesday, hitting $38.16. 94,086 shares of the stock were exchanged, compared to its average volume of 366,600. The firm has a market cap of $1.31 billion, a P/E ratio of 3.37 and a beta of -0.16. The stock has a fifty day simple moving average of $38.55 and a 200 day simple moving average of $42.89. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $74.20.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to analysts' expectations of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Teekay Tankers's dividend payout ratio is presently 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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