Renaissance Technologies LLC Grows Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Renaissance Technologies LLC lifted its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 602,412 shares of the shipping company's stock after purchasing an additional 10,900 shares during the period. Renaissance Technologies LLC owned about 1.76% of Teekay Tankers worth $23,970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Teekay Tankers in the 4th quarter worth $41,000. Meeder Asset Management Inc. purchased a new stake in Teekay Tankers in the fourth quarter worth about $77,000. New Age Alpha Advisors LLC bought a new position in shares of Teekay Tankers in the fourth quarter worth about $132,000. Steward Partners Investment Advisory LLC increased its holdings in Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after acquiring an additional 286 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Teekay Tankers during the 3rd quarter worth approximately $329,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Wall Street Analyst Weigh In

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

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Teekay Tankers Stock Up 2.6 %

TNK stock traded up $0.97 during midday trading on Wednesday, hitting $38.36. The company's stock had a trading volume of 367,551 shares, compared to its average volume of 368,224. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.39 and a beta of -0.16. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $74.20. The company has a 50 day moving average of $38.48 and a two-hundred day moving average of $42.86.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. The company had revenue of $163.42 million for 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%. On average, analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.61%. Teekay Tankers's dividend payout ratio is currently 8.83%.

Teekay Tankers Profile

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.