Strs Ohio Acquires New Shares in Teekay Tankers Ltd. $TNK

Key Points

• Strs Ohio has acquired a new stake in Teekay Tankers Ltd., purchasing 16,000 shares valued at approximately $612,000.
• The company recently declared a quarterly dividend of $0.25, which annualizes to $1.00 with a yield of 1.9%.
• Teekay Tankers experienced a miss on earnings in their last quarterly report, with an EPS of $1.41, falling short of the consensus estimate of $1.59.

Strs Ohio acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,000 shares of the shipping company's stock, valued at approximately $612,000.

Several other large investors have also recently added to or reduced their stakes in TNK. Encompass Capital Advisors LLC purchased a new position in shares of Teekay Tankers in the 1st quarter worth about $17,210,000. Pacer Advisors Inc. purchased a new position in shares of Teekay Tankers in the 1st quarter worth about $11,986,000. Nuveen LLC purchased a new position in shares of Teekay Tankers in the 1st quarter worth about $8,702,000. Voloridge Investment Management LLC raised its holdings in shares of Teekay Tankers by 1,352.3% in the 4th quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock worth $9,658,000 after purchasing an additional 226,001 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Teekay Tankers in the 4th quarter worth about $8,110,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TNK has been the topic of a number of research reports. Zacks Research upgraded Teekay Tankers from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Stock Up 3.8%

Shares of TNK traded up $2.02 during mid-day trading on Tuesday, hitting $55.16. The stock had a trading volume of 166,307 shares, compared to its average volume of 522,632. The company has a market cap of $1.89 billion and a PE ratio of 6.85. The company's fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $43.90. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $62.45.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.The firm had revenue of $154.23 million during the quarter, compared to analyst estimates of $162.67 million. During the same quarter in the previous year, the business posted $3.11 EPS. Equities analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Teekay Tankers's payout ratio is currently 12.42%.

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.