Public Employees Retirement System of Ohio Makes New $1.54 Million Investment in Teekay Tankers Ltd. (NYSE:TNK)

Public Employees Retirement System of Ohio bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 38,715 shares of the shipping company's stock, valued at approximately $1,540,000. Public Employees Retirement System of Ohio owned approximately 0.11% of Teekay Tankers at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Teekay Tankers by 7.8% during the fourth quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company's stock valued at $36,394,000 after acquiring an additional 66,332 shares in the last quarter. Renaissance Technologies LLC grew its position in Teekay Tankers by 1.8% in the 4th quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company's stock valued at $23,970,000 after purchasing an additional 10,900 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Teekay Tankers by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 349,161 shares of the shipping company's stock valued at $13,893,000 after buying an additional 8,814 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Teekay Tankers by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company's stock valued at $12,771,000 after buying an additional 2,978 shares during the last quarter. Finally, Northern Trust Corp grew its holdings 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 valued at $9,864,000 after buying an additional 3,776 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TNK has been the topic of several recent research reports. Evercore ISI dropped their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Stock Up 2.6%

TNK stock traded up $1.13 during trading on Wednesday, reaching $45.37. The stock had a trading volume of 483,883 shares, compared to its average volume of 400,553. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 4.01 and a beta of -0.10. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $73.04. The company's 50 day moving average is $41.56 and its two-hundred day moving average is $40.78.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its 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 the consensus estimate of $146.31 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business's revenue was down 37.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.23 earnings per share. As a group, research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Increases Dividend

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

About Teekay Tankers

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.