Highland Capital Management LLC Purchases Shares of 7,462 Teekay Tankers Ltd. (NYSE:TNK)

Highland Capital Management LLC acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,462 shares of the shipping company's stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock worth $66,000 after acquiring an additional 568 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Teekay Tankers in the fourth quarter valued at approximately $77,000. New Age Alpha Advisors LLC acquired a new stake in Teekay Tankers during the fourth quarter worth approximately $132,000. BNP Paribas Financial Markets acquired a new stake in Teekay Tankers during the fourth quarter worth approximately $143,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after buying an additional 286 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TNK has been the topic of a number of recent analyst reports. Evercore ISI dropped their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Trading Down 2.7%

Shares of TNK opened at $42.31 on Monday. The company's 50 day simple moving average is $44.31 and its 200-day simple moving average is $41.32. The firm has a market cap of $1.45 billion, a PE ratio of 4.53 and a beta of -0.04. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $70.00.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.32). Teekay Tankers had a return on equity of 15.05% and a net margin of 31.45%. The business had revenue of $115.64 million for the quarter, compared to analysts' expectations of $146.31 million. During the same period in the previous year, the business posted $4.23 earnings per share. The company's revenue for the quarter was down 37.1% on a year-over-year basis. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently announced a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $1.00 dividend. This is an increase from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. The ex-dividend date was Monday, May 19th. Teekay Tankers's dividend payout ratio (DPR) is 10.72%.

Teekay Tankers Company 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.

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