Systematic Financial Management LP Buys 29,595 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Systematic Financial Management LP increased its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 210,375 shares of the shipping company's stock after buying an additional 29,595 shares during the period. Systematic Financial Management LP owned 0.61% of Teekay Tankers worth $8,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNK. ProShare Advisors LLC lifted its stake in shares of Teekay Tankers by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 6,757 shares of the shipping company's stock worth $269,000 after buying an additional 2,222 shares during the last quarter. Nomura Holdings Inc. grew its position in Teekay Tankers by 87.8% during the 4th quarter. Nomura Holdings Inc. now owns 26,506 shares of the shipping company's stock worth $1,055,000 after acquiring an additional 12,393 shares during the last quarter. Numerai GP LLC bought a new position in Teekay Tankers in the 4th quarter valued at $2,246,000. Maven Securities LTD acquired a new position in Teekay Tankers during the 4th quarter worth $231,000. Finally, Millennium Management LLC bought a new position in Teekay Tankers in the fourth quarter valued at about $8,110,000. Institutional investors own 52.67% of the company's stock.

Wall Street Analysts Forecast Growth

TNK has been the subject of a number of recent analyst reports. Evercore ISI cut their target price 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 price target on shares of Teekay Tankers in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Teekay Tankers has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Stock Up 1.2%

Teekay Tankers stock traded up $0.54 during mid-day trading on Friday, hitting $43.84. 73,728 shares of the company's stock were exchanged, compared to its average volume of 395,475. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20. The firm has a market capitalization of $1.50 billion, a P/E ratio of 3.86 and a beta of -0.10. The company's 50 day simple moving average is $40.69 and its 200-day simple moving average is $40.85.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). The company had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm's revenue for the quarter was down 37.1% compared to the same quarter last year. During the same period last year, the firm earned $4.23 EPS. Research analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

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

Teekay Tankers 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.