Principal Financial Group Inc. lessened its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 835,184 shares of the shipping company's stock after selling 71,516 shares during the quarter. Principal Financial Group Inc. owned 2.43% of Teekay Tankers worth $33,232,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its position in Teekay Tankers by 9.2% during the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock worth $86,249,000 after acquiring an additional 124,659 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Teekay Tankers by 0.8% in the third quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company's stock valued at $18,542,000 after purchasing an additional 2,403 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Teekay Tankers by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company's stock valued at $17,867,000 after purchasing an additional 72,798 shares in the last quarter. Empowered Funds LLC purchased a new stake in Teekay Tankers during the 4th quarter worth $7,248,000. Finally, Systematic Financial Management LP lifted its holdings in Teekay Tankers by 15.0% in the 3rd quarter. Systematic Financial Management LP now owns 180,780 shares of the shipping company's stock worth $10,530,000 after buying an additional 23,589 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on TNK. Bank of America reiterated an "underperform" rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.
Check Out Our Latest Stock Report on TNK
Teekay Tankers Stock Down 0.4 %
Shares of NYSE:TNK traded down $0.17 during trading on Friday, hitting $40.13. 601,875 shares of the company traded hands, compared to its average volume of 418,256. The business's fifty day moving average is $41.24 and its 200-day moving average is $47.68. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 3.55 and a beta of -0.43. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. On average, analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.
Teekay Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.49%. The ex-dividend date is Monday, March 3rd. Teekay Tankers's payout ratio is currently 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.
Featured Articles
Before you consider Teekay Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay Tankers wasn't on the list.
While Teekay Tankers currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
