Strategic Global Advisors LLC Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

Strategic Global Advisors LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,137 shares of the shipping company's stock, valued at approximately $1,955,000. Strategic Global Advisors LLC owned about 0.14% of Teekay Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in TNK. Steward Partners Investment Advisory LLC grew its holdings in shares of Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after purchasing an additional 286 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Teekay Tankers by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company's stock worth $543,000 after buying an additional 494 shares in the last quarter. Kendall Capital Management boosted its holdings in Teekay Tankers by 3.3% in the fourth quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock valued at $715,000 after purchasing an additional 580 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Teekay Tankers by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock worth $420,000 after buying an additional 686 shares in the last quarter. Finally, Ellevest Inc. grew its holdings in Teekay Tankers by 14.4% during the 4th quarter. Ellevest Inc. now owns 5,704 shares of the shipping company's stock worth $227,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.

Analyst Upgrades and Downgrades

TNK has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI reduced their price target on shares of 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 assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Price Performance

NYSE:TNK traded up $0.53 during midday trading on Friday, reaching $43.83. The stock had a trading volume of 81,790 shares, compared to its average volume of 511,522. The firm's fifty day simple moving average is $40.69 and its 200-day simple moving average is $40.85. The stock has a market capitalization of $1.50 billion, a P/E ratio of 3.87 and a beta of -0.10. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced 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%. Teekay Tankers's revenue was down 37.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.23 EPS. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Increases Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $1.00 per share. This is a boost from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. The ex-dividend date is Monday, May 19th. Teekay Tankers's dividend payout ratio is currently 10.72%.

About Teekay Tankers

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.