Integrated Advisors Network LLC Purchases Shares of 5,558 Teekay Tankers Ltd. (NYSE:TNK)

Integrated Advisors Network LLC bought a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,558 shares of the shipping company's stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Franklin Resources Inc. acquired a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $5,131,000. ABC Arbitrage SA purchased a new position in Teekay Tankers during the 4th quarter worth approximately $372,000. Proficio Capital Partners LLC acquired a new stake in Teekay Tankers during the 4th quarter valued at $629,000. Dynamic Technology Lab Private Ltd acquired a new stake in Teekay Tankers during the 4th quarter valued at $310,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Teekay Tankers by 52.3% in the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock valued at $6,574,000 after purchasing an additional 56,737 shares in the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TNK. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI lowered their target price on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Stock Down 1.2%

Shares of NYSE:TNK traded down $0.59 during trading on Thursday, reaching $46.64. 801,138 shares of the company traded hands, compared to its average volume of 411,010. The firm has a fifty day simple moving average of $43.50 and a 200 day simple moving average of $41.07. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $72.30. The firm has a market cap of $1.60 billion, a P/E ratio of 5.00 and a beta of -0.03.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced 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 firm had revenue of $115.64 million for the quarter, compared to analysts' expectations of $146.31 million. During the same quarter in the prior year, the business posted $4.23 earnings per share. Teekay Tankers's revenue was down 37.1% on a year-over-year basis. As a group, research analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

The company also recently declared a -- dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a dividend of $1.00 per share. This represents a dividend yield of 2.3%. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date of this dividend was Monday, May 19th. Teekay Tankers's payout ratio is currently 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.