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 bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,927 shares of the shipping company's stock, valued at approximately $227,000.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Teekay Tankers by 49.3% during the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock worth $66,000 after buying an additional 568 shares in the last quarter. TD Private Client Wealth LLC grew its position in Teekay Tankers by 19.7% during 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 in the last quarter. CWM LLC grew its position in Teekay Tankers by 399.3% during 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 in the last quarter. BNP Paribas Financial Markets acquired a new stake in Teekay Tankers during the fourth quarter worth about $143,000. Finally, Cable Hill Partners LLC acquired a new stake in Teekay Tankers during the first quarter worth about $184,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on TNK shares. Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st. Zacks Research upgraded shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Stock Up 0.4%

TNK traded up $0.18 during midday trading on Friday, reaching $52.15. 413,121 shares of the company's stock were exchanged, compared to its average volume of 527,088. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $62.45. The business has a 50-day simple moving average of $46.25 and a two-hundred day simple moving average of $43.15. The firm has a market capitalization of $1.79 billion and a price-to-earnings ratio of 6.48.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its 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). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The firm had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. During the same quarter last year, the firm posted $3.11 EPS. As a group, research analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

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