Charles Schwab Investment Management Inc. lessened its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,080 shares of the shipping company's stock after selling 35,574 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.36% of Teekay Tankers worth $4,937,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC grew its position in shares of Teekay Tankers by 9.2% during the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock worth $86,249,000 after acquiring an additional 124,659 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Teekay Tankers by 9.7% during the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock valued at $52,815,000 after buying an additional 80,217 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Teekay Tankers by 0.8% during the third quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company's stock worth $18,542,000 after buying an additional 2,403 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Teekay Tankers by 31.1% in the 3rd 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 period. Finally, Empowered Funds LLC acquired a new position in Teekay Tankers during the 4th quarter worth $7,248,000. 52.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 target price 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.00.
View Our Latest Research Report on Teekay Tankers
Teekay Tankers Price Performance
Teekay Tankers stock remained flat at $38.17 during midday trading on Friday. 84,330 shares of the company's stock traded hands, compared to its average volume of 354,484. Teekay Tankers Ltd. has a 12-month low of $35.23 and a 12-month high of $74.20. The business's 50 day simple moving average is $40.00 and its 200-day simple moving average is $44.87. The firm has a market capitalization of $1.31 billion, a P/E ratio of 3.37 and a beta of -0.44.
Teekay Tankers (NYSE:TNK - Get Free Report) last released 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 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%. As a group, equities analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's payout ratio is 8.83%.
Teekay Tankers Company 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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