Strategic Global Advisors LLC Invests $1.96 Million in Teekay Tankers Ltd. (NYSE:TNK)

Strategic Global Advisors LLC purchased 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 disclosure with the SEC. The institutional investor purchased 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 SEC filing.

Several other institutional investors have also recently made changes to their positions in TNK. R Squared Ltd purchased a new stake in Teekay Tankers during the fourth quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased 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 4th quarter worth $132,000. BNP Paribas Financial Markets bought a new position in Teekay Tankers in the 4th quarter worth $143,000. Finally, Steward Partners Investment Advisory LLC lifted its position in 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 valued at $168,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Down 0.5%

TNK stock traded down $0.22 during trading on Tuesday, reaching $45.26. The company's stock had a trading volume of 407,888 shares, compared to its average volume of 395,591. The company's fifty day moving average is $40.46 and its 200-day moving average is $40.84. The company has a market capitalization of $1.55 billion, a P/E ratio of 4.00 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 released its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.32). The business 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%. The business's revenue for the quarter 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. Analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.00 per share. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. This represents a yield of 2.3%. The ex-dividend date is Monday, May 19th. Teekay Tankers's dividend payout ratio (DPR) is 10.72%.

Wall Street Analyst Weigh In

TNK has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Teekay Tankers presently has a consensus 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.