Millennium Management LLC Buys Shares of 203,826 Teekay Tankers Ltd. (NYSE:TNK)

Millennium Management LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 203,826 shares of the shipping company's stock, valued at approximately $8,110,000. Millennium Management LLC owned approximately 0.59% of Teekay Tankers at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Barclays PLC boosted its stake in Teekay Tankers by 273.7% during the third quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after acquiring an additional 23,051 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company's stock worth $307,000 after acquiring an additional 2,248 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Teekay Tankers by 21.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company's stock worth $493,000 after acquiring an additional 2,211 shares in the last quarter. R Squared Ltd bought a new stake in Teekay Tankers during the fourth quarter worth about $41,000. Finally, Choreo LLC bought a new stake in Teekay Tankers during the fourth quarter worth about $294,000. Institutional investors own 52.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI dropped their price objective on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. One 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Price Performance

Shares of Teekay Tankers stock traded down $1.50 during trading on Wednesday, hitting $43.43. 340,406 shares of the company's stock traded hands, compared to its average volume of 396,859. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20. The business has a 50-day simple moving average of $41.01 and a 200-day simple moving average of $40.78. The stock has a market capitalization of $1.49 billion, a P/E ratio of 3.84 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results 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 34.55% and a return on equity of 20.67%. The company 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 earned $4.23 EPS. The business's revenue was down 37.1% compared to the same quarter last year. On average, equities analysts predict 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 will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $1.00 per share. This is an increase from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date is Monday, May 19th. This represents a yield of 2.3%. Teekay Tankers's dividend payout ratio is 10.72%.

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.