Proficio Capital Partners LLC acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 15,797 shares of the shipping company's stock, valued at approximately $629,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Teekay Tankers during the 4th quarter valued at about $41,000. Linden Thomas Advisory Services LLC boosted its position in shares of Teekay Tankers by 21.7% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company's stock valued at $493,000 after acquiring an additional 2,211 shares during the period. Exchange Traded Concepts LLC grew its stake in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company's stock valued at $307,000 after acquiring an additional 2,248 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in Teekay Tankers during the 3rd quarter worth approximately $132,000. Finally, Rhumbline Advisers lifted its stake in Teekay Tankers by 6.0% in the 4th quarter. Rhumbline Advisers now owns 39,949 shares of the shipping company's stock worth $1,590,000 after purchasing an additional 2,273 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Bank of America restated an "underperform" rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group restated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Teekay Tankers has a consensus rating of "Moderate Buy" and an average target price of $62.00.
Read Our Latest Stock Analysis on TNK
Teekay Tankers Stock Up 1.3 %
Shares of NYSE TNK traded up $0.46 during mid-day trading on Thursday, reaching $36.79. 270,911 shares of the company were exchanged, compared to its average volume of 485,297. Teekay Tankers Ltd. has a 52 week low of $35.23 and a 52 week high of $74.20. The company's 50 day moving average price is $41.10 and its 200 day moving average price is $46.07. The stock has a market capitalization of $1.26 billion, a PE ratio of 3.25 and a beta of -0.44.
Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. The firm had revenue of $163.42 million during the quarter, compared to analysts' expectations of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. On average, sell-side analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.
Teekay Tankers Announces Dividend
The firm also recently declared 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 dividend yield of 2.72%. The ex-dividend date is Monday, March 3rd. Teekay Tankers's dividend payout ratio (DPR) is presently 8.83%.
Teekay Tankers Profile
(
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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