Credit Industriel ET Commercial Makes New $1.18 Million Investment in Teekay Tankers Ltd. (NYSE:TNK)

Credit Industriel ET Commercial purchased a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 29,583 shares of the shipping company's stock, valued at approximately $1,177,000. Credit Industriel ET Commercial owned about 0.09% of Teekay Tankers as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TNK. Barclays PLC grew its holdings in Teekay Tankers by 273.7% during the third quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock valued at $1,833,000 after purchasing an additional 23,051 shares during the period. Principal Financial Group Inc. increased its position in shares of Teekay Tankers by 9.7% in the 3rd 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 in the last quarter. Franklin Resources Inc. acquired a new stake in Teekay Tankers during the 4th quarter worth $5,131,000. ABC Arbitrage SA bought a new position in Teekay Tankers during the fourth quarter worth about $372,000. Finally, Proficio Capital Partners LLC acquired a new position in Teekay Tankers in the fourth quarter valued at about $629,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Trading Up 1.0 %

NYSE:TNK traded up $0.42 on Tuesday, hitting $42.66. The company's stock had a trading volume of 181,521 shares, compared to its average volume of 377,179. The stock has a fifty day moving average of $38.31 and a two-hundred day moving average of $41.52. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $74.20. The firm has a market capitalization of $1.46 billion, a P/E ratio of 3.77 and a beta of -0.16.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business had revenue of $163.42 million during the quarter, compared to analysts' expectations of $158.26 million. As a group, sell-side analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's payout ratio is currently 8.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TNK shares. Evercore ISI cut their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

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.