Trexquant Investment LP Has $2.14 Million Stock Holdings 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 boosted its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 129.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,818 shares of the shipping company's stock after acquiring an additional 31,544 shares during the period. Trexquant Investment LP owned approximately 0.16% of Teekay Tankers worth $2,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 acquiring an additional 18,222 shares during the period. 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 acquiring an additional 24,942 shares during the period. Pacer Advisors Inc. bought a new position in Teekay Tankers during the first quarter valued at about $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 acquiring an additional 3,776 shares during the period. Finally, Voloridge Investment Management LLC boosted its holdings 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 in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, July 31st. Zacks Research raised Teekay Tankers from a "strong sell" rating to a "hold" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Price Performance

Shares of TNK traded down $0.46 on Wednesday, hitting $51.74. The company's stock had a trading volume of 267,115 shares, compared to its average volume of 564,079. The company has a market capitalization of $1.77 billion and a PE ratio of 6.43. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $62.45. The company has a 50 day moving average price of $45.97 and a 200 day moving average price of $42.99.

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). The business had revenue of $154.23 million during the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same period in the previous year, the firm earned $3.11 earnings per share. On average, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced 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 payout ratio is presently 12.42%.

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.