Denali Advisors LLC Buys 29,549 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Denali Advisors LLC increased its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 53.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,949 shares of the shipping company's stock after buying an additional 29,549 shares during the period. Denali Advisors LLC owned 0.25% of Teekay Tankers worth $3,251,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Voloridge Investment Management LLC grew its position in Teekay Tankers by 1,352.3% during the fourth quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock worth $9,658,000 after buying an additional 226,001 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Teekay Tankers in the 4th quarter worth approximately $8,110,000. Marshall Wace LLP grew its holdings in shares of Teekay Tankers by 262.6% during the 4th quarter. Marshall Wace LLP now owns 216,805 shares of the shipping company's stock worth $8,627,000 after purchasing an additional 157,015 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $5,131,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $4,820,000. 52.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on TNK shares. Evercore ISI decreased their price objective on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Teekay Tankers has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Price Performance

Shares of TNK traded down $0.77 during midday trading on Friday, hitting $44.09. The stock had a trading volume of 286,107 shares, compared to its average volume of 429,819. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 4.73 and a beta of -0.04. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $66.25. The company has a 50 day simple moving average of $44.60 and a two-hundred day simple moving average of $41.84.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). Teekay Tankers had a return on equity of 15.05% and a net margin of 31.45%. The business had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same quarter in the prior year, the company earned $4.23 earnings per share. The company's quarterly revenue was down 37.1% on a year-over-year basis. Analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. Teekay Tankers's payout ratio is presently 10.72%.

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.