MQS Management LLC Invests $319,000 in Teekay Tankers Ltd. (NYSE:TNK)

MQS Management LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,330 shares of the shipping company's stock, valued at approximately $319,000.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after acquiring an additional 568 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after buying an additional 304 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers in the 4th quarter valued at approximately $77,000. New Age Alpha Advisors LLC bought a new stake in shares of Teekay Tankers during the 4th quarter worth approximately $132,000. Finally, CWM LLC boosted its position in shares of Teekay Tankers by 399.3% during the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock worth $133,000 after acquiring an additional 2,783 shares in the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Down 1.7%

Shares of NYSE:TNK traded down $0.77 during trading on Friday, hitting $44.09. 112,593 shares of the company were exchanged, compared to its average volume of 427,263. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $66.25. The company has a market capitalization of $1.51 billion, a P/E ratio of 4.73 and a beta of -0.04. The business's 50 day moving average is $44.63 and its 200-day moving average is $41.80.

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

Teekay Tankers Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $1.00 per share. This represents a 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 presently 10.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI cut their target price 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. Jefferies Financial Group restated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, May 8th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.