Bailard Inc. Takes $428,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

Bailard Inc. bought a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,174 shares of the shipping company's stock, valued at approximately $428,000.

A number of other institutional investors also recently added to or reduced their stakes in TNK. Allspring Global Investments Holdings LLC increased its holdings in Teekay Tankers by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 38,123 shares of the shipping company's stock valued at $1,459,000 after buying an additional 285 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Teekay Tankers by 19.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock worth $71,000 after acquiring an additional 304 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Teekay Tankers by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company's stock worth $543,000 after acquiring an additional 494 shares during the period. Blue Trust Inc. increased its stake in Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after purchasing an additional 568 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Teekay Tankers by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock worth $420,000 after purchasing an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Up 3.8%

Shares of TNK traded up $1.68 during trading hours on Wednesday, reaching $45.22. 333,392 shares of the company traded hands, compared to its average volume of 428,806. The stock has a market capitalization of $1.55 billion, a PE ratio of 4.85 and a beta of -0.04. The stock has a fifty day simple moving average of $44.53 and a 200 day simple moving average of $41.88. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $65.89.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $115.64 million for the quarter, compared to analysts' expectations of $146.31 million. Teekay Tankers had a net margin of 31.45% and a return on equity of 15.05%. The business's quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.23 EPS. Research analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently declared a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given 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 is 10.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TNK shares. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI cut their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.