Teekay Tankers Ltd. (NYSE:TNK) Holdings Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 67.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,602 shares of the shipping company's stock after buying an additional 14,400 shares during the period. New York State Common Retirement Fund owned 0.10% of Teekay Tankers worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Teekay Tankers by 3,882.5% during the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock valued at $750,000 after buying an additional 19,102 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $5,131,000. Highland Capital Management LLC acquired a new position in shares of Teekay Tankers during the first quarter valued at approximately $286,000. Integrated Advisors Network LLC acquired a new position in shares of Teekay Tankers during the first quarter valued at approximately $213,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $310,000. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Up 1.1%

Teekay Tankers stock traded up $0.48 during mid-day trading on Monday, hitting $44.65. The company's stock had a trading volume of 412,869 shares, compared to its average volume of 373,758. The stock has a market capitalization of $1.53 billion, a P/E ratio of 4.79 and a beta of -0.04. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $65.89. The stock's fifty day moving average price is $44.43 and its two-hundred day moving average price is $41.94.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted 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 business had revenue of $115.64 million during the quarter, compared to analyst estimates of $146.31 million. Teekay Tankers had a return on equity of 15.05% and a net margin of 31.45%. The company's quarterly revenue was down 37.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.23 EPS. Equities analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The firm also recently declared a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a $1.00 dividend. 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. This represents a yield of 2.3%. Teekay Tankers's payout ratio is 10.72%.

Wall Street Analysts Forecast Growth

TNK has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI lowered 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.