Shariaportfolio Inc. bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,056 shares of the shipping company's stock, valued at approximately $3,498,000. Teekay Tankers comprises 1.9% of Shariaportfolio Inc.'s investment portfolio, making the stock its 11th largest position. Shariaportfolio Inc. owned 0.18% of Teekay Tankers at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Teekay Tankers by 266.7% in the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock valued at $43,000 after buying an additional 456 shares during the last quarter. Quarry LP bought a new position in shares of Teekay Tankers in the 2nd quarter valued at about $43,000. EntryPoint Capital LLC grew its position in shares of Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company's stock worth $51,000 after buying an additional 378 shares during the period. CWM LLC raised its stake in shares of Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after buying an additional 482 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Teekay Tankers by 14.7% in the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock valued at $92,000 after buying an additional 172 shares during the period. 52.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have commented on TNK shares. Bank of America lowered their target price on shares of Teekay Tankers from $77.00 to $69.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. StockNews.com started coverage on Teekay Tankers in a report on Thursday, October 10th. They set a "hold" rating on the stock. Jefferies Financial Group restated a "buy" rating and set a $76.00 target price on shares of Teekay Tankers in a research report on Thursday, August 1st. Fearnley Fonds upgraded shares of Teekay Tankers to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Evercore ISI boosted their price objective on shares of Teekay Tankers from $84.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $76.67.
Get Our Latest Report on Teekay Tankers
Teekay Tankers Stock Performance
NYSE:TNK traded down $1.62 on Tuesday, reaching $53.26. The company's stock had a trading volume of 242,895 shares, compared to its average volume of 351,887. Teekay Tankers Ltd. has a 1-year low of $42.01 and a 1-year high of $74.20. The business's 50-day moving average price is $56.55 and its two-hundred day moving average price is $61.72. The firm has a market cap of $1.83 billion, a PE ratio of 4.15, a PEG ratio of 1.39 and a beta of -0.33.
Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.13). The business had revenue of $296.60 million during the quarter, compared to analyst estimates of $192.19 million. Teekay Tankers had a net margin of 36.04% and a return on equity of 26.34%. Teekay Tankers's revenue for the quarter was down 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.38 earnings per share. As a group, sell-side analysts expect that Teekay Tankers Ltd. will post 13.33 EPS for the current year.
Teekay Tankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. Teekay Tankers's payout ratio is 7.79%.
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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