Gallacher Capital Management LLC Makes New $641,000 Investment in Teekay Tankers Ltd. $TNK

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 acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,357 shares of the shipping company's stock, valued at approximately $641,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TNK. Encompass Capital Advisors LLC bought a new position in Teekay Tankers during the first quarter valued at about $17,210,000. Pacer Advisors Inc. bought a new position in shares of Teekay Tankers in the first quarter valued at approximately $11,986,000. Nuveen LLC bought a new position in shares of Teekay Tankers in the first quarter valued at approximately $8,702,000. Voloridge Investment Management LLC boosted its position in shares of Teekay Tankers by 1,352.3% in the fourth quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock valued at $9,658,000 after acquiring an additional 226,001 shares during the period. Finally, Millennium Management LLC purchased a new stake in Teekay Tankers in the fourth quarter valued at approximately $8,110,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TNK shares. Zacks Research raised shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Trading Down 2.0%

Teekay Tankers stock traded down $1.07 during midday trading on Friday, hitting $53.65. The stock had a trading volume of 135,438 shares, compared to its average volume of 522,726. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $62.45. The company has a market capitalization of $1.84 billion and a PE ratio of 6.67. The firm's fifty day moving average is $47.14 and its two-hundred day moving average is $43.61.

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

Teekay Tankers Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 11th. Teekay Tankers's payout ratio is presently 12.42%.

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.