OMERS ADMINISTRATION Corp Purchases Shares of 13,800 Teekay Tankers Ltd. $TNK

Key Points

• OMERS ADMINISTRATION Corp has acquired a new stake in Teekay Tankers Ltd., purchasing 13,800 shares valued at approximately $528,000.
• Teekay Tankers reported earnings of $1.41 per share, falling short of the expected $1.59, with a revenue of $154.23 million for the quarter.
• The company announced a quarterly dividend of $0.25, representing an annual yield of 2.0%, with a payout ratio of 12.42%.

OMERS ADMINISTRATION Corp acquired a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,800 shares of the shipping company's stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TNK. Fuller & Thaler Asset Management Inc. lifted its position in shares of Teekay Tankers by 1.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,238,898 shares of the shipping company's stock worth $47,413,000 after purchasing an additional 18,222 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Teekay Tankers by 2.7% during the first quarter. American Century Companies Inc. now owns 939,599 shares of the shipping company's stock worth $35,958,000 after purchasing an additional 24,942 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Teekay Tankers by 2.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 349,161 shares of the shipping company's stock worth $13,893,000 after purchasing an additional 8,814 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Teekay Tankers during the first quarter worth about $11,986,000. Finally, Northern Trust Corp lifted its position in shares of Teekay Tankers by 1.5% during the fourth quarter. Northern Trust Corp now owns 247,898 shares of the shipping company's stock worth $9,864,000 after purchasing an additional 3,776 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Teekay Tankers currently has an average rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Trading Up 2.7%

TNK traded up $1.36 on Friday, hitting $52.10. 580,463 shares of the company's stock were exchanged, compared to its average volume of 582,701. The firm has a market cap of $1.79 billion and a PE ratio of 6.47. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $62.45. The stock has a fifty day moving average of $45.36 and a two-hundred day moving average of $42.76.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.18). The business had revenue of $154.23 million for the quarter, compared to analyst estimates 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 last year, the company earned $3.11 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 11th. This represents a $1.00 annualized dividend and a yield of 1.9%. Teekay Tankers's dividend payout ratio is 12.42%.

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.