Teekay Tankers Ltd. $TNK Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its holdings in Teekay Tankers Ltd. by 119.6% during the first quarter, owning 13,642 shares worth $522,000 as of its latest filing.
• Teekay Tankers reported earnings of $1.41 per share in its latest quarter, missing analysts' estimates by $0.18, with a revenue of $154.23 million compared to an expected $162.67 million.
• The company announced a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00, representing a 2.0% yield with a payout ratio of 12.42%.

Ieq Capital LLC lifted its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 119.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,642 shares of the shipping company's stock after purchasing an additional 7,429 shares during the period. Ieq Capital LLC's holdings in Teekay Tankers were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Teekay Tankers by 49.3% during the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after buying an additional 568 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Teekay Tankers by 19.7% during the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after purchasing an additional 304 shares during the last quarter. CWM LLC boosted its position in shares of Teekay Tankers by 399.3% in the first quarter. CWM LLC now owns 3,480 shares of the shipping company's stock valued at $133,000 after acquiring an additional 2,783 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Teekay Tankers in the fourth quarter valued at approximately $143,000. Finally, Cable Hill Partners LLC bought a new position in Teekay Tankers in the first quarter worth $184,000. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded up $1.28 on Monday, hitting $53.36. The company's stock had a trading volume of 535,684 shares, compared to its average volume of 520,653. The company has a market capitalization of $1.83 billion and a PE ratio of 6.63. The company has a 50-day simple moving average of $45.36 and a 200 day simple moving average of $42.78. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $62.45.

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

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Teekay Tankers's dividend payout ratio is presently 12.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

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.