Teekay Tankers Ltd. $TNK Stock Position Raised by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Teekay Tankers Ltd. by 1.5%, owning approximately 3.61% of the company, valued at $47.41 million.
• Teekay Tankers has been experiencing increased institutional investment, with GAMMA Investing LLC raising its holdings by 3,882.5% during the same quarter.
• The company reported earnings of $1.41 per share, which was below analysts' expectations, alongside a quarterly dividend announcement of $0.25 per share, leading to an annual dividend yield of 2.2%.

Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,238,898 shares of the shipping company's stock after buying an additional 18,222 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 3.61% of Teekay Tankers worth $47,413,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Teekay Tankers by 2.7% during the first quarter. American Century Companies Inc. now owns 939,599 shares of the shipping company's stock worth $35,958,000 after buying an additional 24,942 shares during the period. Ethic Inc. boosted its stake in shares of Teekay Tankers by 42.1% during the first quarter. Ethic Inc. now owns 14,307 shares of the shipping company's stock worth $550,000 after buying an additional 4,236 shares during the period. Boston Partners acquired a new stake in shares of Teekay Tankers during the first quarter worth about $525,000. Nuveen LLC acquired a new stake in shares of Teekay Tankers during the first quarter worth about $8,702,000. Finally, Deutsche Bank AG acquired a new stake in Teekay Tankers in the first quarter valued at about $711,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, July 31st. One investment 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 company's stock. According to MarketBeat.com, Teekay Tankers has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Trading Up 0.6%

Shares of TNK traded up $0.2990 during mid-day trading on Friday, reaching $48.1390. The company had a trading volume of 528,461 shares, compared to its average volume of 611,487. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 5.98 and a beta of -0.09. The firm has a fifty day simple moving average of $44.49 and a 200-day simple moving average of $42.21. 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 posted 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). The business had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. During the same quarter in the previous year, the firm posted $3.11 EPS. As a group, equities analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were issued a $0.25 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. 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.