Victory Capital Management Inc. Acquires 42,094 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Victory Capital Management Inc. increased its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 92.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,679 shares of the shipping company's stock after acquiring an additional 42,094 shares during the quarter. Victory Capital Management Inc. owned about 0.26% of Teekay Tankers worth $3,489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TNK. R Squared Ltd bought a new position in shares of Teekay Tankers during the 4th quarter valued at about $41,000. Millburn Ridgefield Corp acquired a new stake in Teekay Tankers during the 3rd quarter worth approximately $132,000. Steward Partners Investment Advisory LLC lifted its stake in Teekay Tankers by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after buying an additional 286 shares in the last quarter. ClearAlpha Technologies LP acquired a new position in shares of Teekay Tankers in the third quarter valued at approximately $255,000. Finally, Entropy Technologies LP bought a new stake in shares of Teekay Tankers during the third quarter worth $269,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Performance

NYSE TNK traded up $0.45 during trading on Thursday, hitting $39.97. The stock had a trading volume of 260,346 shares, compared to its average volume of 343,291. The company has a market capitalization of $1.37 billion, a PE ratio of 3.53 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 company's 50-day moving average price is $40.82 and its two-hundred day moving average price is $45.46.

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Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data 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 analyst estimates 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 anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. 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 issued a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, 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.