EP Wealth Advisors LLC Takes $227,000 Position in Teekay Tankers Ltd. $TNK

Key Points

• EP Wealth Advisors LLC has made a new investment in Teekay Tankers Ltd., acquiring 5,927 shares valued at approximately $227,000.
• Institutional investors collectively own 52.67% of Teekay Tankers, with significant stakes acquired by other firms like GAMMA Investing LLC and Ameriprise Financial Inc. in recent quarters.
• Teekay Tankers reported earnings per share of $1.41 for the last quarter, which was below analyst expectations of $1.59, and set a target price of $50.67 with a consensus rating of "Moderate Buy".

EP Wealth Advisors LLC acquired a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,927 shares of the shipping company's stock, valued at approximately $227,000.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Teekay Tankers by 21.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,524 shares of the shipping company's stock valued at $379,000 after acquiring an additional 1,674 shares during the period. Voya Investment Management LLC purchased a new stake in Teekay Tankers during the fourth quarter worth about $283,000. Northern Trust Corp increased its stake in Teekay Tankers by 1.5% during the fourth quarter. Northern Trust Corp now owns 247,898 shares of the shipping company's stock worth $9,864,000 after purchasing an additional 3,776 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Teekay Tankers by 52.3% during the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock worth $6,574,000 after buying an additional 56,737 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $143,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TNK shares. Zacks Research raised Teekay Tankers from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Teekay Tankers currently has an average rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Stock Up 7.4%

Shares of NYSE TNK traded up $3.86 during midday trading on Monday, hitting $55.96. The stock had a trading volume of 1,117,247 shares, compared to its average volume of 519,122. The company has a market capitalization of $1.92 billion and a price-to-earnings ratio of 6.95. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $62.45. The company has a fifty day moving average price of $46.47 and a 200 day moving average price of $43.34.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS 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 company had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. During the same period last year, the firm posted $3.11 earnings per share. On average, research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, August 11th. Teekay Tankers's dividend payout ratio is presently 12.42%.

Teekay Tankers 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.