GAMMA Investing LLC lifted its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 3,882.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,594 shares of the shipping company's stock after purchasing an additional 19,102 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Teekay Tankers worth $750,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in Teekay Tankers by 7.8% during the fourth quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company's stock worth $36,394,000 after buying an additional 66,332 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Teekay Tankers by 1.8% during the 4th quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock worth $23,970,000 after purchasing an additional 10,900 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Teekay Tankers by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 349,161 shares of the shipping company's stock worth $13,893,000 after purchasing an additional 8,814 shares during the period. Geode Capital Management LLC grew its holdings in Teekay Tankers by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock valued at $12,771,000 after purchasing an additional 2,978 shares during the last quarter. Finally, Northern Trust Corp raised its position in Teekay Tankers by 1.5% in the 4th 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. Institutional investors own 52.67% of the company's stock.
Analysts Set New Price Targets
TNK has been the subject of a number of research analyst reports. Evercore ISI decreased their price target on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.67.
Get Our Latest Stock Report on Teekay Tankers
Teekay Tankers Stock Performance
TNK traded down $0.59 during trading on Wednesday, hitting $46.64. 801,136 shares of the stock were exchanged, compared to its average volume of 508,514. The firm has a 50 day simple moving average of $43.29 and a 200 day simple moving average of $41.03. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 5.00 and a beta of -0.03. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $72.30.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). Teekay Tankers had a net margin of 31.45% and a return on equity of 15.05%. The business had revenue of $115.64 million for the quarter, compared to the consensus estimate of $146.31 million. During the same quarter in the prior year, the business posted $4.23 earnings per share. Teekay Tankers's revenue for the quarter was down 37.1% on a year-over-year basis. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.
Teekay Tankers Increases Dividend
The business also recently disclosed a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a yield of 2.3%. This is an increase from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's dividend payout ratio (DPR) is presently 10.72%.
Teekay Tankers Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider Teekay Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay Tankers wasn't on the list.
While Teekay Tankers currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
