Tidal Investments LLC Acquires Shares of 11,041 Teekay Tankers Ltd. (NYSE:TNK)

Tidal Investments LLC acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,041 shares of the shipping company's stock, valued at approximately $439,000.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Teekay Tankers by 7.8% in the fourth quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company's stock worth $36,394,000 after acquiring an additional 66,332 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Teekay Tankers by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock worth $23,970,000 after acquiring an additional 10,900 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Teekay Tankers by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 349,161 shares of the shipping company's stock worth $13,893,000 after acquiring an additional 8,814 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Teekay Tankers by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock worth $12,771,000 after acquiring an additional 2,978 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Teekay Tankers by 1.5% in the fourth quarter. Northern Trust Corp now owns 247,898 shares of the shipping company's stock worth $9,864,000 after acquiring an additional 3,776 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

NYSE TNK traded down $0.48 during trading hours on Tuesday, reaching $44.28. The company's stock had a trading volume of 582,967 shares, compared to its average volume of 400,219. The firm has a fifty day simple moving average of $41.56 and a 200-day simple moving average of $40.78. The stock has a market cap of $1.52 billion, a P/E ratio of 3.91 and a beta of -0.10. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $73.04.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.32). Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $115.64 million for the quarter, compared to the consensus estimate of $146.31 million. During the same quarter in the previous year, the business posted $4.23 EPS. The firm's revenue for the quarter was down 37.1% compared to the same quarter last year. On average, research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The company also recently declared a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $1.00 per share. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date was Monday, May 19th. This represents a yield of 2.3%. Teekay Tankers's dividend payout ratio (DPR) is presently 10.72%.

Analysts Set New Price Targets

TNK has been the subject of a number of research reports. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI dropped their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One investment 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. Based on data from MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Profile

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.