Public Employees Retirement System of Ohio Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

Public Employees Retirement System of Ohio acquired a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 38,715 shares of the shipping company's stock, valued at approximately $1,540,000. Public Employees Retirement System of Ohio owned about 0.11% of Teekay Tankers as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in TNK. Barclays PLC grew its position in shares of Teekay Tankers by 273.7% in the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after buying an additional 23,051 shares during the last quarter. R Squared Ltd bought a new stake in shares of Teekay Tankers in the 4th quarter worth approximately $41,000. Choreo LLC bought a new stake in shares of Teekay Tankers in the 4th quarter worth approximately $294,000. Bleakley Financial Group LLC grew its position in shares of Teekay Tankers by 161.6% in the 4th quarter. Bleakley Financial Group LLC now owns 16,982 shares of the shipping company's stock worth $676,000 after buying an additional 10,490 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Teekay Tankers in the 4th quarter worth approximately $7,248,000. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Stock Performance

Shares of NYSE TNK traded down $0.81 during mid-day trading on Friday, hitting $44.50. 404,982 shares of the stock traded hands, compared to its average volume of 402,354. The stock has a fifty day moving average price of $41.95 and a 200-day moving average price of $40.83. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $72.30. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 3.93 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last released 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). Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The company had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. During the same period last year, the firm posted $4.23 earnings per share. The company's revenue was down 37.1% compared to the same quarter last year. As a group, sell-side analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently announced a -- dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $1.00 dividend. This represents a yield of 2.3%. This is an increase from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date was Monday, May 19th. Teekay Tankers's payout ratio is 10.72%.

Analyst Ratings Changes

TNK has been the topic of several research reports. Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI dropped their price target on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of "Moderate Buy" and an average target price 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.