Integrated Advisors Network LLC Takes $213,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

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

Several other large investors have also recently bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of Teekay Tankers by 7.8% during the 4th 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 last quarter. Renaissance Technologies LLC lifted its position in Teekay Tankers by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock valued at $23,970,000 after acquiring an additional 10,900 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Teekay Tankers by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 349,161 shares of the shipping company's stock valued at $13,893,000 after acquiring an additional 8,814 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Teekay Tankers by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock worth $12,771,000 after purchasing an additional 2,978 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Teekay Tankers by 1.5% during the fourth 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 last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Performance

Teekay Tankers stock traded up $1.34 during midday trading on Tuesday, hitting $47.23. 755,068 shares of the company's stock were exchanged, compared to its average volume of 409,456. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 6.02 and a beta of -0.03. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $72.30. The firm's 50 day simple moving average is $43.08 and its 200 day simple moving average is $40.99.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $115.64 million during the quarter, compared to analyst estimates of $146.31 million. Teekay Tankers had a net margin of 31.45% and a return on equity of 15.05%. The business's revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.23 EPS. On average, 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 declared a -- dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $1.00 per share. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, May 19th. This is a boost from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's dividend payout ratio is 10.72%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TNK. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Teekay Tankers presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

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.