15,357 Shares in Teekay Tankers Ltd. $TNK Bought by Gallacher Capital Management LLC

Key Points

• Gallacher Capital Management LLC acquired 15,357 shares of Teekay Tankers Ltd., valued at approximately $641,000, marking a new position in the company.
• Teekay Tankers reported $1.41 earnings per share in its latest quarterly results, missing analysts' estimates and generating revenue of $154.23 million.
• The company declared a quarterly dividend of $0.25 per share, which translates to an annualized dividend yield of 1.9%, with a payout ratio of 12.42%.

Gallacher Capital Management LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,357 shares of the shipping company's stock, valued at approximately $641,000.

A number of other institutional investors have also recently bought and sold shares of TNK. Encompass Capital Advisors LLC acquired a new stake in Teekay Tankers during the first quarter worth $17,210,000. Pacer Advisors Inc. acquired a new stake in Teekay Tankers during the first quarter worth $11,986,000. Nuveen LLC acquired a new stake in Teekay Tankers during the first quarter worth $8,702,000. Voloridge Investment Management LLC boosted its stake in Teekay Tankers by 1,352.3% during the fourth quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock worth $9,658,000 after buying an additional 226,001 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Teekay Tankers during the fourth quarter worth $8,110,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Up 0.4%

Teekay Tankers stock opened at $52.15 on Monday. The stock has a 50-day simple moving average of $46.25 and a 200 day simple moving average of $43.21. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $62.45. The stock has a market capitalization of $1.79 billion and a price-to-earnings ratio of 6.48.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The business had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. During the same period in the prior year, the firm earned $3.11 earnings per share. As a group, sell-side analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 11th. Teekay Tankers's payout ratio is currently 12.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TNK shares. Zacks Research upgraded shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. 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, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Teekay Tankers currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Company 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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