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

Systematic Financial Management LP increased its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 16.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 210,375 shares of the shipping company's stock after acquiring an additional 29,595 shares during the quarter. Systematic Financial Management LP owned approximately 0.61% of Teekay Tankers worth $8,371,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TNK. R Squared Ltd acquired a new position in Teekay Tankers during the fourth quarter valued at $41,000. Meeder Asset Management Inc. bought a new stake in shares of Teekay Tankers during the 4th quarter worth about $77,000. New Age Alpha Advisors LLC bought a new stake in shares of Teekay Tankers during the 4th quarter worth about $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 holdings 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 buying an additional 286 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Teekay Tankers stock traded down $0.22 during midday trading on Tuesday, reaching $45.26. 407,888 shares of the company's stock were exchanged, compared to its average volume of 395,591. The stock's 50-day simple moving average is $40.46 and its 200 day simple moving average is $40.84. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 4.00 and a beta of -0.10. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). The firm had revenue of $115.64 million for 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 for the quarter was down 37.1% on a year-over-year basis. During the same quarter last year, the business posted $4.23 EPS. Research 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 disclosed a -- dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.00 per share. This represents a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's dividend payout ratio (DPR) is 10.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Evercore ISI reduced their price objective 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 reaffirmed a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.