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

New York State Common Retirement Fund increased its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent 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 quarter. New York State Common Retirement Fund owned approximately 0.10% of Teekay Tankers worth $1,362,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 568 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of 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 last quarter. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers during the 4th quarter worth approximately $77,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth approximately $132,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Teekay Tankers during the 4th quarter worth approximately $143,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of NYSE TNK traded down $0.69 during trading on Friday, reaching $44.18. 202,305 shares of the stock traded hands, compared to its average volume of 393,060. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $65.89. The company has a 50-day moving average of $44.45 and a 200-day moving average of $41.95. The stock has a market capitalization of $1.52 billion, a P/E ratio of 4.74 and a beta of -0.04.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $115.64 million for 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%. The business's revenue for the quarter was down 37.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.23 earnings per share. Analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Increases Dividend

The company also recently disclosed a -- dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $1.00 per share. The ex-dividend date was Monday, May 19th. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. Teekay Tankers's dividend payout ratio is 10.72%.

Analyst Upgrades and Downgrades

TNK has been the topic of a number of recent analyst reports. Evercore ISI decreased their target price on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Teekay Tankers 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.