11,174 Shares in Teekay Tankers Ltd. (NYSE:TNK) Acquired by Bailard Inc.

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

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its position 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 acquiring an additional 568 shares during the period. TD Private Client Wealth LLC increased its position in Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after acquiring an additional 304 shares during the period. Meeder Asset Management Inc. acquired a new stake in Teekay Tankers in the 4th quarter valued at approximately $77,000. New Age Alpha Advisors LLC acquired a new stake in Teekay Tankers in the 4th quarter valued at approximately $132,000. Finally, CWM LLC increased its position in Teekay Tankers by 399.3% in the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock valued at $133,000 after acquiring an additional 2,783 shares during the period. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Down 1.7%

Shares of Teekay Tankers stock opened at $44.09 on Friday. The stock has a market cap of $1.51 billion, a PE ratio of 4.73 and a beta of -0.04. The business has a fifty day simple moving average of $44.60 and a 200-day simple moving average of $41.84. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $66.25.

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). Teekay Tankers had a return on equity of 15.05% and a net margin of 31.45%. The firm had revenue of $115.64 million for the quarter, compared to analysts' expectations of $146.31 million. During the same quarter in the prior year, the business posted $4.23 earnings per share. Teekay Tankers's revenue was down 37.1% on a year-over-year basis. Analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently announced 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. This represents a yield of 2.3%. The ex-dividend date was Monday, May 19th. Teekay Tankers's dividend payout ratio (DPR) is 10.72%.

Analyst Upgrades and Downgrades

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

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