American Century Companies Inc. Purchases 24,942 Shares of 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. increased its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 939,599 shares of the shipping company's stock after purchasing an additional 24,942 shares during the quarter. American Century Companies Inc. owned approximately 2.74% of Teekay Tankers worth $35,958,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TNK. Ethic Inc. lifted its position in shares of Teekay Tankers by 42.1% during the 1st quarter. Ethic Inc. now owns 14,307 shares of the shipping company's stock valued at $550,000 after buying an additional 4,236 shares in the last quarter. Boston Partners bought a new stake in Teekay Tankers during the 1st quarter worth approximately $525,000. Nuveen LLC purchased a new position in Teekay Tankers during the first quarter valued at approximately $8,702,000. Deutsche Bank AG bought a new position in shares of Teekay Tankers in the first quarter worth approximately $711,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Teekay Tankers in the first quarter worth $11,986,000. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of Teekay Tankers stock traded up $0.2990 during trading on Friday, reaching $48.1390. 528,461 shares of the stock traded hands, compared to its average volume of 627,794. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 5.98 and a beta of -0.09. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $62.45. The business has a fifty day simple moving average of $44.49 and a two-hundred day simple moving average of $42.21.

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 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 analysts' expectations of $162.67 million. Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. During the same quarter in the prior year, the business earned $3.11 EPS. On average, research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Teekay Tankers's dividend payout ratio (DPR) is 12.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Teekay Tankers presently has a consensus rating of "Moderate Buy" and an average 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.