Y Intercept Hong Kong Ltd Increases Position in Teekay Tankers Ltd. (NYSE:TNK)

Y Intercept Hong Kong Ltd boosted its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 155.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,992 shares of the shipping company's stock after acquiring an additional 9,127 shares during the period. Y Intercept Hong Kong Ltd's holdings in Teekay Tankers were worth $597,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Teekay Tankers in the 4th quarter valued at about $41,000. Millburn Ridgefield Corp purchased a new stake in Teekay Tankers in the third quarter valued at approximately $132,000. US Bancorp DE acquired a new stake in shares of Teekay Tankers in the third quarter valued at approximately $231,000. Ieq Capital LLC acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at approximately $247,000. Finally, ClearAlpha Technologies LP purchased a new position in shares of Teekay Tankers during the third quarter worth approximately $255,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Down 4.8 %

NYSE:TNK traded down $1.86 during midday trading on Wednesday, reaching $37.04. The stock had a trading volume of 399,978 shares, compared to its average volume of 508,216. The stock has a market cap of $1.27 billion, a P/E ratio of 3.27 and a beta of -0.44. The firm has a fifty day simple moving average of $41.37 and a two-hundred day simple moving average of $46.80. Teekay Tankers Ltd. has a 12-month low of $36.04 and a 12-month high of $74.20.

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Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating the consensus estimate 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%. On average, sell-side analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers's payout ratio is 8.83%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TNK shares. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, February 20th. Bank of America reiterated an "underperform" rating and set a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Teekay Tankers currently 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.