American Century Companies Inc. Boosts Stock Position in Teekay Tankers Ltd. $TNK

Key Points

• American Century Companies Inc. increased its stake in Teekay Tankers Ltd. by 2.7%, acquiring an additional 24,942 shares, leading to ownership of 939,599 shares valued at approximately $35.96 million.
• Teekay Tankers announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 2.1% with a payout ratio of 12.42%.
• The stock price of Teekay Tankers has risen by 7.0%, with a current market cap of $1.64 billion and an expected earnings per share of 7.13 for the current year.

American Century Companies Inc. raised its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 939,599 shares of the shipping company's stock after acquiring an additional 24,942 shares during the quarter. American Century Companies Inc. owned 2.74% of Teekay Tankers worth $35,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Teekay Tankers by 3,882.5% in the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock valued at $750,000 after acquiring an additional 19,102 shares during the period. Highland Capital Management LLC acquired a new stake in Teekay Tankers in the first quarter valued at $286,000. Integrated Advisors Network LLC acquired a new stake in Teekay Tankers in the first quarter valued at $213,000. Ameriprise Financial Inc. lifted its holdings in Teekay Tankers by 52.3% in the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock valued at $6,574,000 after acquiring an additional 56,737 shares during the period. Finally, Millennium Management LLC acquired a new stake in Teekay Tankers in the fourth quarter valued at $8,110,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Teekay Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Trading Up 1.5%

Shares of NYSE:TNK traded up $0.73 during midday trading on Wednesday, hitting $48.18. 667,718 shares of the stock were exchanged, compared to its average volume of 631,107. The stock has a market cap of $1.65 billion, a P/E ratio of 5.99 and a beta of -0.09. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $62.45. The company has a 50 day moving average price of $44.56 and a 200-day moving average price of $42.33.

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 the consensus estimate of $1.59 by ($0.18). The firm had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same period last year, the firm earned $3.11 EPS. On average, equities research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, August 11th. Teekay Tankers's payout ratio is 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.