Trexquant Investment LP Has $2.14 Million Position in Teekay Tankers Ltd. $TNK

Key Points

• Trexquant Investment LP significantly increased its position in Teekay Tankers Ltd. by 129.9% in the first quarter, owning 55,818 shares valued at approximately $2.14 million.
• Teekay Tankers recently announced a quarterly dividend of $0.25 per share, with a 2.0% dividend yield and a payout ratio of 12.42%.
• The stock of Teekay Tankers has a current market capitalization of $1.74 billion and a PE ratio of 6.30, with shares trading around $50.68.

Trexquant Investment LP lifted its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 129.9% 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 55,818 shares of the shipping company's stock after purchasing an additional 31,544 shares during the period. Trexquant Investment LP owned about 0.16% of Teekay Tankers worth $2,136,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TNK. Fuller & Thaler Asset Management Inc. increased its stake in Teekay Tankers by 1.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,238,898 shares of the shipping company's stock valued at $47,413,000 after purchasing an additional 18,222 shares during the last quarter. American Century Companies Inc. increased its stake in Teekay Tankers by 2.7% during the first quarter. American Century Companies Inc. now owns 939,599 shares of the shipping company's stock valued at $35,958,000 after purchasing an additional 24,942 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Teekay Tankers during the first quarter valued at $11,986,000. Northern Trust Corp increased its stake in Teekay Tankers by 1.5% during the fourth quarter. Northern Trust Corp now owns 247,898 shares of the shipping company's stock valued at $9,864,000 after purchasing an additional 3,776 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Teekay Tankers by 1,352.3% during the fourth quarter. Voloridge Investment Management LLC now owns 242,713 shares of the shipping company's stock valued at $9,658,000 after purchasing an additional 226,001 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Trading Down 1.7%

Shares of TNK traded down $0.90 during midday trading on Tuesday, hitting $52.30. The stock had a trading volume of 219,827 shares, compared to its average volume of 520,413. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $62.45. The business has a 50-day simple moving average of $45.59 and a two-hundred day simple moving average of $42.87. The firm has a market cap of $1.79 billion and a P/E ratio of 6.51.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced 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 earned $3.11 earnings per share. On average, analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 11th. Teekay Tankers's dividend payout ratio (DPR) is presently 12.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, July 31st. One investment 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.67.

About Teekay Tankers

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.