Squarepoint Ops LLC purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 44,683 shares of the shipping company's stock, valued at approximately $1,778,000. Squarepoint Ops LLC owned approximately 0.13% of Teekay Tankers as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its position in Teekay Tankers by 273.7% during the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after acquiring an additional 23,051 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company's stock valued at $307,000 after buying an additional 2,248 shares during the last quarter. R Squared Ltd bought a new stake in shares of Teekay Tankers in the 4th quarter worth $41,000. Choreo LLC bought a new stake in shares of Teekay Tankers in the fourth quarter worth $294,000. Finally, Bleakley Financial Group LLC grew its holdings in shares of Teekay Tankers by 161.6% in the fourth quarter. Bleakley Financial Group LLC now owns 16,982 shares of the shipping company's stock worth $676,000 after acquiring an additional 10,490 shares during the period. 52.67% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on TNK. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI reduced their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.
View Our Latest Analysis on TNK
Teekay Tankers Stock Performance
Shares of TNK stock traded down $0.48 during trading hours on Tuesday, reaching $44.28. The company had a trading volume of 582,967 shares, compared to its average volume of 400,219. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $73.04. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 3.91 and a beta of -0.10. The stock has a fifty day moving average of $41.56 and a 200-day moving average of $40.78.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same quarter last year, the company earned $4.23 earnings per share. The firm's revenue for the quarter was down 37.1% on a year-over-year basis. On average, analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.
Teekay Tankers Increases Dividend
The business also recently disclosed a -- dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $1.00 per share. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 2.3%. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's dividend payout ratio is currently 10.72%.
Teekay Tankers Company Profile
(
Free Report)
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.
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