Trexquant Investment LP Takes $966,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

Trexquant Investment LP bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,274 shares of the shipping company's stock, valued at approximately $966,000. Trexquant Investment LP owned 0.07% of Teekay Tankers as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Teekay Tankers by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock valued at $12,771,000 after acquiring an additional 2,978 shares during the period. Diametric Capital LP acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $301,000. Franklin Resources Inc. acquired a new stake in Teekay Tankers in the 4th quarter worth about $5,131,000. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $77,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $1,632,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Up 1.6 %

Shares of Teekay Tankers stock traded up $0.61 during mid-day trading on Wednesday, hitting $38.00. The stock had a trading volume of 59,670 shares, compared to its average volume of 366,463. The firm has a market cap of $1.30 billion, a P/E ratio of 3.35 and a beta of -0.16. The firm has a 50-day moving average of $38.55 and a two-hundred day moving average of $42.89. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $74.20.

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Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The firm had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's payout ratio is 8.83%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 target price 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.