Two Sigma Advisers LP trimmed its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 31.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,070 shares of the shipping company's stock after selling 83,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.52% of Teekay Tankers worth $7,165,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $41,000. Meeder Asset Management Inc. bought a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $77,000. New Age Alpha Advisors LLC bought a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $132,000. BNP Paribas Financial Markets bought a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $143,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after acquiring an additional 286 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors.
Teekay Tankers Trading Down 0.0%
NYSE:TNK traded down $0.02 during midday trading on Thursday, hitting $43.38. 56,477 shares of the company traded hands, compared to its average volume of 395,986. The firm's fifty day moving average is $41.11 and its 200-day moving average is $40.80. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $74.20. The firm has a market capitalization of $1.49 billion, a P/E ratio of 3.83 and a beta of -0.10.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The company had revenue of $115.64 million for the quarter, compared to analysts' expectations of $146.31 million. During the same quarter in the previous year, the company posted $4.23 EPS. The business's quarterly revenue was down 37.1% on a year-over-year basis. On average, research analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Increases Dividend
The business also recently declared a -- dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a dividend of $1.00 per share. This represents a yield of 2.3%. The ex-dividend date is Monday, May 19th. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's dividend payout ratio is presently 10.72%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on TNK. Evercore ISI lowered their target price 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 reiterated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Teekay Tankers currently has a consensus rating of "Moderate Buy" and an average target price of $50.67.
Read Our Latest Research Report on Teekay Tankers
Teekay Tankers Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Teekay Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay Tankers wasn't on the list.
While Teekay Tankers currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
