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Nuveen LLC Makes New $8.70 Million Investment in Teekay Tankers Ltd. $TNK

Teekay Tankers logo with Transportation background

Key Points

  • Nuveen LLC has acquired a new position in Teekay Tankers Ltd., investing approximately $8.70 million to own 0.66% of the company's shares.
  • Teekay Tankers announced a quarterly dividend of $0.25, equating to an annual yield of approximately 2.1%, with a dividend payout ratio of 12.42%.
  • Analysts have a consensus rating of "Moderate Buy" for Teekay Tankers, with a target price of $50.67.
  • Looking to export and analyze Teekay Tankers data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Nuveen LLC purchased a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 227,382 shares of the shipping company's stock, valued at approximately $8,702,000. Nuveen LLC owned approximately 0.66% of Teekay Tankers at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TNK. Blue Trust Inc. boosted its stake in shares of Teekay Tankers by 49.3% during the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after purchasing an additional 568 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Teekay Tankers by 19.7% during the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after purchasing an additional 304 shares in the last quarter. CWM LLC boosted its stake in shares of Teekay Tankers by 399.3% during the first quarter. CWM LLC now owns 3,480 shares of the shipping company's stock valued at $133,000 after purchasing an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Teekay Tankers during the fourth quarter valued at about $143,000. Finally, Cable Hill Partners LLC acquired a new stake in shares of Teekay Tankers during the first quarter valued at about $184,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Check Out Our Latest Stock Analysis on TNK

Teekay Tankers Stock Performance

Shares of TNK traded down $0.22 during mid-day trading on Friday, reaching $48.45. 36,757 shares of the company were exchanged, compared to its average volume of 513,726. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $62.45. The stock has a market capitalization of $1.66 billion, a PE ratio of 6.02 and a beta of -0.09. The business has a 50 day simple moving average of $44.60 and a two-hundred day simple moving average of $42.37.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The business had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same quarter in the previous year, the firm posted $3.11 earnings per share. On average, analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 11th. Teekay Tankers's payout ratio is presently 12.42%.

Teekay Tankers Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

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