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Denali Advisors LLC Has $3.25 Million Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Teekay Tankers logo with Transportation background

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundry Partners LLC grew its holdings in shares of Teekay Tankers by 1.4% in the first quarter. Foundry Partners LLC now owns 59,451 shares of the shipping company's stock valued at $2,275,000 after purchasing an additional 807 shares in the last quarter. Bailard Inc. purchased a new position in shares of Teekay Tankers in the first quarter valued at $428,000. Cable Hill Partners LLC purchased a new position in shares of Teekay Tankers in the first quarter valued at $184,000. Victory Capital Management Inc. grew its holdings in shares of Teekay Tankers by 30.9% in the first quarter. Victory Capital Management Inc. now owns 114,786 shares of the shipping company's stock valued at $4,393,000 after purchasing an additional 27,107 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Teekay Tankers in the first quarter valued at $319,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Trading Up 0.4%

NYSE:TNK traded up $0.19 on Tuesday, hitting $43.62. 193,095 shares of the stock were exchanged, compared to its average volume of 428,398. The stock has a market cap of $1.50 billion, a PE ratio of 4.68 and a beta of -0.04. The stock has a fifty day moving average of $44.60 and a 200-day moving average of $41.85. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $66.25.

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

Teekay Tankers Increases Dividend

The company also recently disclosed a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $1.00 per share. This is a boost from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date of this dividend was Monday, May 19th. This represents a yield of 2.3%. Teekay Tankers's dividend payout ratio (DPR) is presently 10.72%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI reduced their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.67.

View Our Latest Report on Teekay Tankers

About Teekay Tankers

(Free Report)

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.

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Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

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