Squarepoint Ops LLC Acquires New Shares in Teekay Tankers Ltd. (NYSE:TNK)

Squarepoint Ops LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,683 shares of the shipping company's stock, valued at approximately $1,778,000. Squarepoint Ops LLC owned 0.13% of Teekay Tankers at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. R Squared Ltd bought a new position in Teekay Tankers in the fourth quarter worth approximately $41,000. Meeder Asset Management Inc. purchased a new stake in shares of Teekay Tankers during the 4th quarter valued at $77,000. New Age Alpha Advisors LLC purchased a new position in Teekay Tankers in the 4th quarter worth $132,000. BNP Paribas Financial Markets purchased a new position in Teekay Tankers in the 4th quarter worth $143,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Teekay Tankers by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after acquiring an additional 286 shares during the period. Hedge funds and other institutional investors own 52.67% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TNK shares. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI reduced their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Trading Up 1.8%

TNK traded up $0.79 during midday trading on Monday, hitting $44.98. 158,060 shares of the company traded hands, compared to its average volume of 398,347. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 3.97 and a beta of -0.10. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $74.00. The business has a 50 day simple moving average of $41.32 and a two-hundred day simple moving average of $40.74.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.32). The firm had revenue of $115.64 million for the quarter, compared to analysts' expectations of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Teekay Tankers's quarterly revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.23 earnings per share. Equities research analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The company also recently disclosed a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $1.00 per share. This is a boost from Teekay Tankers's previous -- dividend of $0.25. This represents a yield of 2.3%. The ex-dividend date of this dividend was Monday, May 19th. Teekay Tankers's dividend payout ratio (DPR) is presently 10.72%.

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.