Ruffer LLP Takes Position in Teekay Tankers Ltd. $TNK

Key Points

• Ruffer LLP bought a new stake of 69,863 shares in Teekay Tankers (NYSE:TNK) in Q4, valued at about $3.74 million, representing roughly 0.20% ownership.
• Analyst views are mixed but overall positive — the consensus rating is "Moderate Buy" with an average price target of $80, while individual ratings range from Hold to Outperform (Evercore at $90).
• Teekay beat Q4 expectations with EPS of $2.80 (vs. $2.71 est.) and $258.3M revenue; the stock trades near $73.59, has a market cap of $2.54B, and pays a $1.00 annual dividend (~1.4% yield).

Ruffer LLP purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,863 shares of the shipping company's stock, valued at approximately $3,738,000. Ruffer LLP owned 0.20% of Teekay Tankers as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $28,000. State of Alaska Department of Revenue acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at $54,000. Sunbelt Securities Inc. acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at $63,000. Osaic Holdings Inc. lifted its stake in shares of Teekay Tankers by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company's stock valued at $101,000 after purchasing an additional 1,123 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of Teekay Tankers by 162.6% in the 3rd quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company's stock valued at $104,000 after purchasing an additional 1,278 shares during the period. Institutional investors and hedge funds own 52.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research downgraded Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday. Dnb Carnegie downgraded Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Wall Street Zen raised Teekay Tankers from a "hold" rating to a "buy" rating in a research note on Saturday. Evercore reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Teekay Tankers in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Teekay Tankers in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.00.

Teekay Tankers Trading Down 3.8%

Shares of Teekay Tankers stock opened at $73.59 on Wednesday. The company has a market capitalization of $2.54 billion, a PE ratio of 7.29 and a beta of -0.28. Teekay Tankers Ltd. has a 12 month low of $38.00 and a 12 month high of $82.24. The stock's fifty day simple moving average is $72.54 and its 200 day simple moving average is $63.01.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The shipping company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.71 by $0.09. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The business had revenue of $258.27 million for the quarter, compared to the consensus estimate of $179.70 million. During the same quarter last year, the business posted $1.50 EPS. The firm's revenue was down .3% compared to the same quarter last year. Analysts predict that Teekay Tankers Ltd. will post 7.3 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Teekay Tankers's dividend payout ratio (DPR) is currently 9.91%.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company's fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.

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