Boston Partners Acquires New Stake in Teekay Tankers Ltd. $TNK

Boston Partners bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,709 shares of the shipping company's stock, valued at approximately $525,000.

A number of other institutional investors have also recently bought and sold shares of TNK. Blue Trust Inc. grew its holdings in Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock worth $66,000 after acquiring an additional 568 shares during the period. TD Private Client Wealth LLC grew its holdings in Teekay Tankers by 19.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock worth $71,000 after acquiring an additional 304 shares during the period. CWM LLC grew its holdings in Teekay Tankers by 399.3% during the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock worth $133,000 after acquiring an additional 2,783 shares during the period. BNP Paribas Financial Markets acquired a new stake in Teekay Tankers during the 4th quarter worth $143,000. Finally, Cable Hill Partners LLC acquired a new stake in Teekay Tankers during the 1st quarter worth $184,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Price Performance

Shares of NYSE TNK traded up $0.2990 during midday trading on Friday, reaching $48.1390. 528,461 shares of the stock were exchanged, compared to its average volume of 611,487. The business has a 50-day simple moving average of $44.49 and a two-hundred day simple moving average of $42.21. 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 12 month low of $33.35 and a 12 month high of $62.45.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The firm had revenue of $154.23 million for 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 period in the prior year, the business earned $3.11 earnings per share. Equities research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

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

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.