Voloridge Investment Management LLC Buys 226,001 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Voloridge Investment Management LLC raised its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 1,352.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 242,713 shares of the shipping company's stock after purchasing an additional 226,001 shares during the quarter. Voloridge Investment Management LLC owned 0.71% of Teekay Tankers worth $9,658,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TNK. Vident Advisory LLC grew its position in Teekay Tankers by 39.8% during the fourth quarter. Vident Advisory LLC now owns 12,890 shares of the shipping company's stock valued at $513,000 after acquiring an additional 3,668 shares during the period. Wexford Capital LP raised its position in shares of Teekay Tankers by 276.1% during the 4th quarter. Wexford Capital LP now owns 53,899 shares of the shipping company's stock worth $2,145,000 after purchasing an additional 39,567 shares during the period. Squarepoint Ops LLC bought a new position in Teekay Tankers in the 4th quarter worth approximately $1,778,000. Tidal Investments LLC bought a new position in Teekay Tankers in the 4th quarter worth approximately $439,000. Finally, Strategic Global Advisors LLC bought a new position in Teekay Tankers in the 4th quarter worth approximately $1,955,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI reduced their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group restated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Trading Up 1.0%

Shares of Teekay Tankers stock traded up $0.43 during trading hours on Friday, reaching $44.18. 171,998 shares of the company's stock were exchanged, compared to its average volume of 397,033. The company has a 50 day moving average of $41.20 and a two-hundred day moving average of $40.79. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20. The stock has a market cap of $1.52 billion, a P/E ratio of 3.90 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same quarter in the previous year, the company earned $4.23 EPS. The business's revenue for the quarter was down 37.1% on a year-over-year basis. As a group, analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently declared a -- dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a $1.00 dividend. This is an increase from Teekay Tankers's previous -- dividend of $0.25. This represents a yield of 2.3%. The ex-dividend date is Monday, May 19th. Teekay Tankers's payout ratio is 10.72%.

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.