Encompass Capital Advisors LLC Acquires New Shares in Teekay Tankers Ltd. $TNK

Key Points

• Encompass Capital Advisors LLC acquired a new stake of 449,689 shares in Teekay Tankers Ltd. valued at approximately $17.2 million, representing about 1.31% ownership of the company.
• Teekay Tankers declared a quarterly dividend of $0.25, yielding 2.0% annually, with a current dividend payout ratio of 12.42%.
• The company's stock recently reported earnings of $1.41 per share, missing estimates, and has a market capitalization of $1.74 billion with a price-to-earnings ratio of 6.29.

Encompass Capital Advisors LLC bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 449,689 shares of the shipping company's stock, valued at approximately $17,210,000. Encompass Capital Advisors LLC owned about 1.31% of Teekay Tankers at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Teekay Tankers by 3,882.5% in the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock valued at $750,000 after buying an additional 19,102 shares during the period. Highland Capital Management LLC bought a new stake in shares of Teekay Tankers in the first quarter valued at approximately $286,000. Integrated Advisors Network LLC bought a new stake in shares of Teekay Tankers in the first quarter valued at approximately $213,000. Ameriprise Financial Inc. boosted its stake in shares of Teekay Tankers by 52.3% in the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock valued at $6,574,000 after buying an additional 56,737 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Teekay Tankers in the fourth quarter valued at approximately $8,110,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price target 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Trading Up 2.1%

NYSE TNK traded up $1.11 on Monday, hitting $53.19. 760,823 shares of the company's stock were exchanged, compared to its average volume of 522,240. The stock has a 50-day moving average of $45.36 and a 200-day moving average of $42.78. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $62.45. The stock has a market cap of $1.82 billion and a price-to-earnings ratio of 6.61.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its 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). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.The business had revenue of $154.23 million for the quarter, compared to the consensus estimate of $162.67 million. During the same quarter in the previous year, the company earned $3.11 earnings per share. As a group, analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 11th. This represents a $1.00 annualized dividend and a yield of 1.9%. Teekay Tankers's dividend payout ratio is presently 12.42%.

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.