Capital Fund Management S.A. Trims Stake in Teekay Tankers Ltd. $TNK

Key Points

• Capital Fund Management S.A. reduced its holdings in Teekay Tankers Ltd. by 61.5%, selling 46,722 shares, leaving it with 29,283 shares valued at approximately $1,121,000.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Teekay Tankers, with a target price around $50.67, despite the stock recently reporting lower-than-expected earnings and revenue.
• Teekay Tankers declared a quarterly dividend of $0.25 per share, representing an annualized yield of 2.1% and a payout ratio of 12.42%.

Capital Fund Management S.A. lowered its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 61.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,283 shares of the shipping company's stock after selling 46,722 shares during the period. Capital Fund Management S.A. owned approximately 0.09% of Teekay Tankers worth $1,121,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Teekay Tankers by 3,882.5% during the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock worth $750,000 after purchasing an additional 19,102 shares during the period. Highland Capital Management LLC bought a new position in Teekay Tankers in the first quarter worth approximately $286,000. Integrated Advisors Network LLC bought a new position in Teekay Tankers in the first quarter worth approximately $213,000. Ameriprise Financial Inc. boosted 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 worth $6,574,000 after acquiring an additional 56,737 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Teekay Tankers in the fourth quarter worth approximately $8,110,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of TNK stock traded up $0.47 during trading hours on Friday, reaching $49.14. The company had a trading volume of 810,660 shares, compared to its average volume of 518,468. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $62.45. The business has a fifty day simple moving average of $44.60 and a 200-day simple moving average of $42.37. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 6.10 and a beta of -0.09.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The business 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 quarter last year, the business posted $3.11 earnings per share. On average, equities research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 11th. Teekay Tankers's dividend payout ratio (DPR) is currently 12.42%.

Wall Street Analysts Forecast Growth

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

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.