Teekay Tankers Ltd. $TNK Shares Purchased 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 increased its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 119.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,642 shares of the shipping company's stock after buying an additional 7,429 shares during the period. Ieq Capital LLC's holdings in Teekay Tankers were worth $522,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Teekay Tankers by 3,882.5% during the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock worth $750,000 after buying an additional 19,102 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Teekay Tankers during the first quarter worth approximately $286,000. Integrated Advisors Network LLC purchased a new stake in shares of Teekay Tankers during the first quarter worth approximately $213,000. Ameriprise Financial Inc. increased its stake in shares of Teekay Tankers by 52.3% during the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock worth $6,574,000 after buying an additional 56,737 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $8,110,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

Shares of TNK stock traded down $1.01 during trading hours on Tuesday, hitting $52.19. The stock had a trading volume of 66,457 shares, compared to its average volume of 519,467. The firm has a market capitalization of $1.79 billion and a PE ratio of 6.47. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $62.45. The stock's 50 day moving average is $45.59 and its 200 day moving average is $42.87.

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

Teekay Tankers Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock 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.