Great Lakes Advisors LLC Has $2.24 Million Stock Holdings in Teekay Tankers Ltd. $TNK

Key Points

• Great Lakes Advisors LLC reduced its stake in Teekay Tankers by 15.1%, owning approximately $2.24 million in shares after selling 10,413 shares in the first quarter.
• Teekay Tankers is currently rated as a "Moderate Buy" by analysts, with a consensus average target price of $50.67.
• The company recently reported earnings of $1.41 per share, which was below analysts' expectations, and also announced a quarterly dividend of $0.25.

Great Lakes Advisors LLC decreased its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 15.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,438 shares of the shipping company's stock after selling 10,413 shares during the quarter. Great Lakes Advisors LLC owned about 0.17% of Teekay Tankers worth $2,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Encompass Capital Advisors LLC bought a new position in shares of Teekay Tankers in the first quarter valued at $17,210,000. Pacer Advisors Inc. acquired a new stake in Teekay Tankers in the first quarter valued at $11,986,000. Nuveen LLC acquired a new stake in Teekay Tankers in the first quarter valued at $8,702,000. Voloridge Investment Management LLC grew its position in shares of Teekay Tankers by 1,352.3% in the 4th quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock valued at $9,658,000 after acquiring an additional 226,001 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $8,110,000. Institutional investors own 52.67% of the company's stock.

Analysts Set New Price Targets

TNK has been the topic of a number of research analyst reports. Zacks Research raised shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a report on Monday. Jefferies Financial Group reissued a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Teekay Tankers currently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Price Performance

TNK opened at $51.74 on Thursday. The business has a fifty day simple moving average of $45.97 and a 200 day simple moving average of $42.99. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $62.45. The company has a market capitalization of $1.77 billion and a PE ratio of 6.43.

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 analysts' consensus estimates of $1.59 by ($0.18). The firm had revenue of $154.23 million for the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same period in the prior year, the business posted $3.11 EPS. Equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm 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 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 payout ratio is currently 12.42%.

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.

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