Royce & Associates LP acquired a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 225,683 shares of the shipping company's stock, valued at approximately $8,980,000. Royce & Associates LP owned 0.66% of Teekay Tankers at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in TNK. Victory Capital Management Inc. lifted its stake in shares of Teekay Tankers by 261.7% during the 3rd quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company's stock worth $2,655,000 after acquiring an additional 32,983 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Teekay Tankers by 3.5% during the third quarter. Segall Bryant & Hamill LLC now owns 78,644 shares of the shipping company's stock worth $4,581,000 after purchasing an additional 2,639 shares during the last quarter. Foundry Partners LLC lifted its position in shares of Teekay Tankers by 89.3% during the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company's stock worth $6,156,000 after purchasing an additional 49,853 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Teekay Tankers by 25.4% during the third quarter. The Manufacturers Life Insurance Company now owns 98,361 shares of the shipping company's stock valued at $5,730,000 after purchasing an additional 19,895 shares during the period. Finally, FMR LLC grew its holdings in shares of Teekay Tankers by 9.2% in the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock worth $86,249,000 after purchasing an additional 124,659 shares during the last quarter. Institutional investors own 52.67% of the company's stock.
Analysts Set New Price Targets
Separately, Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.00.
View Our Latest Stock Analysis on TNK
Teekay Tankers Price Performance
Shares of TNK stock traded down $1.39 during mid-day trading on Friday, hitting $38.57. The stock had a trading volume of 852,221 shares, compared to its average volume of 344,420. The firm has a market capitalization of $1.32 billion, a P/E ratio of 3.41 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. The firm's 50-day moving average is $40.64 and its two-hundred day moving average is $45.29.
Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate 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 net margin of 34.55% and a return on equity of 20.67%. Analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.
Teekay Tankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Monday, March 3rd. Teekay Tankers's payout ratio is currently 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.
Further Reading
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.
