Encompass Capital Advisors LLC Takes $17.21 Million Position 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 purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 449,689 shares of the shipping company's stock, valued at approximately $17,210,000. Encompass Capital Advisors LLC owned 1.31% of Teekay Tankers as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after buying an additional 568 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Teekay Tankers by 19.7% in the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock worth $71,000 after buying an additional 304 shares during the last quarter. CWM LLC increased its stake in shares of Teekay Tankers by 399.3% in the first quarter. CWM LLC now owns 3,480 shares of the shipping company's stock worth $133,000 after buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Teekay Tankers in the fourth quarter worth $143,000. Finally, Cable Hill Partners LLC bought a new stake in shares of Teekay Tankers in the first quarter worth $184,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Down 1.5%

TNK traded down $0.82 during trading on Tuesday, reaching $52.38. 192,284 shares of the company's stock were exchanged, compared to its average volume of 520,251. The company has a market capitalization of $1.80 billion and a P/E ratio of 6.49. The business has a 50 day moving average price of $45.59 and a 200 day moving average price of $42.87. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $62.45.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The business had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. During the same period in the prior year, the firm earned $3.11 earnings per share. As a group, research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

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

Wall Street Analyst Weigh In

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