Quantbot Technologies LP increased its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 492.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 57,135 shares of the shipping company's stock after buying an additional 47,485 shares during the quarter. Quantbot Technologies LP owned about 0.17% of Teekay Tankers worth $2,273,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of TNK. FMR LLC lifted its position in Teekay Tankers by 9.2% during the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock valued at $86,249,000 after purchasing an additional 124,659 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Teekay Tankers by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock worth $52,815,000 after buying an additional 80,217 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $18,542,000 after acquiring an additional 2,403 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Teekay Tankers by 31.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company's stock valued at $17,867,000 after acquiring an additional 72,798 shares during the last quarter. Finally, Royce & Associates LP bought a new position in Teekay Tankers in the fourth quarter valued at about $8,980,000. Hedge funds and other institutional investors own 52.67% of the company's stock.
Analyst Upgrades and Downgrades
Separately, 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, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.
Check Out Our Latest Stock Analysis on TNK
Teekay Tankers Stock Performance
Shares of TNK traded down $0.68 during mid-day trading on Thursday, reaching $38.13. The stock had a trading volume of 273,399 shares, compared to its average volume of 344,059. The business has a fifty day moving average of $40.13 and a 200 day moving average of $44.92. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 3.37 and a beta of -0.44. Teekay Tankers Ltd. has a 12 month low of $35.23 and a 12 month high of $74.20.
Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. On average, research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. 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 (DPR) 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.
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