State of Wyoming Has $108,000 Stake in Teekay Tankers Ltd. (NYSE:TNK)

State of Wyoming reduced its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 69.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Teekay Tankers in the 4th quarter valued at $41,000. Meeder Asset Management Inc. acquired a new stake in shares of Teekay Tankers in the 4th quarter worth $77,000. New Age Alpha Advisors LLC purchased a new stake in shares of Teekay Tankers in the fourth quarter valued at about $132,000. BNP Paribas Financial Markets purchased a new stake in shares of Teekay Tankers in the fourth quarter valued at about $143,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Teekay Tankers by 7.3% during 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. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock traded up $0.46 on Friday, reaching $44.21. 620,804 shares of the company were exchanged, compared to its average volume of 399,284. The company's 50-day moving average is $41.32 and its two-hundred day moving average is $40.74. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 3.91 and a beta of -0.10. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $74.00.

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 analysts' consensus estimates of $1.53 by ($0.32). The firm had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm's quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.23 EPS. As a group, sell-side analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The business also recently announced 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 of this dividend was Monday, May 19th. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. Teekay Tankers's payout ratio is 10.72%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TNK. Evercore ISI decreased their price target 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. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Company 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.