State of Wyoming lowered its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,714 shares of the shipping company's stock after selling 6,293 shares during the period. State of Wyoming's holdings in Teekay Tankers were worth $108,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $41,000. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $77,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $132,000. BNP Paribas Financial Markets acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $143,000. Finally, Steward Partners Investment Advisory LLC increased its holdings 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 valued at $168,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 52.67% of the company's stock.
Teekay Tankers Stock Up 1.1%
TNK stock traded up $0.46 on Friday, reaching $44.21. 620,804 shares of the company's stock were exchanged, compared to its average volume of 399,273. The stock has a fifty day moving average of $41.32 and a 200-day moving average of $40.79. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.00. The firm has a market cap of $1.52 billion, a PE ratio of 3.91 and a beta of -0.10.
Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 earnings per share 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 business had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same period in the prior year, the company earned $4.23 EPS. The company's revenue was down 37.1% on a year-over-year basis. On average, equities research analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Increases Dividend
The company 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 is a positive change from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date was Monday, May 19th. This represents a yield of 2.3%. Teekay Tankers's dividend payout ratio is 10.72%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on TNK. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI dropped their target price on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.
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Teekay Tankers 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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