Proficio Capital Partners LLC Buys Shares of 15,797 Teekay Tankers Ltd. (NYSE:TNK)

Proficio Capital Partners LLC purchased a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,797 shares of the shipping company's stock, valued at approximately $629,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Teekay Tankers in the fourth quarter worth $41,000. Millburn Ridgefield Corp purchased a new stake in Teekay Tankers during the 3rd quarter valued at about $132,000. Steward Partners Investment Advisory LLC increased its stake in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after purchasing an additional 286 shares in the last quarter. Ieq Capital LLC purchased a new position in Teekay Tankers in the fourth quarter worth about $247,000. Finally, ClearAlpha Technologies LP bought a new position in shares of Teekay Tankers in the third quarter worth approximately $255,000. Institutional investors own 52.67% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.00.

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Teekay Tankers Stock Performance

Shares of TNK stock traded down $0.68 during trading hours on Thursday, reaching $38.13. The company had a trading volume of 273,399 shares, compared to its average volume of 462,364. The business has a fifty day moving average price of $40.13 and a 200-day moving average price of $44.92. Teekay Tankers Ltd. has a one year low of $35.23 and a one year high of $74.20. The firm has a market cap of $1.31 billion, a PE ratio of 3.37 and a beta of -0.44.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. Equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, March 3rd. Teekay Tankers's dividend payout ratio is 8.83%.

About Teekay Tankers

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.