Wealth Enhancement Advisory Services LLC Acquires New Stake in Teekay Tankers Ltd. $TNK

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new stake in Teekay Tankers Ltd., purchasing 5,270 shares valued at approximately $233,000 in the second quarter.
• Teekay Tankers reported a quarterly earnings miss with earnings per share of $1.41, falling short of the analysts' consensus estimate of $1.59.
• Analysts have varied perspectives on the stock, with Zacks Research upgrading it to a "hold," while Jefferies Financial Group maintained a "buy" rating with a price target of $55.00.

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 5,270 shares of the shipping company's stock, valued at approximately $233,000.

A number of other large investors have also recently bought and sold shares of TNK. Blue Trust Inc. grew its stake in shares of Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after buying an additional 568 shares during the period. TD Private Client Wealth LLC lifted its position in Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after acquiring an additional 304 shares in the last quarter. CWM LLC lifted its position in Teekay Tankers by 399.3% in the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock valued at $133,000 after acquiring an additional 2,783 shares in the last quarter. Cable Hill Partners LLC bought a new position in Teekay Tankers in the 1st quarter valued at about $184,000. Finally, Ritholtz Wealth Management bought a new position in Teekay Tankers in the 1st quarter valued at about $202,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Teekay Tankers in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $50.67.

Teekay Tankers Trading Down 2.4%

Teekay Tankers stock opened at $49.20 on Friday. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $59.64. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.11 and a beta of -0.07. The firm has a 50 day simple moving average of $49.48 and a 200 day simple moving average of $45.09.

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

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, August 11th. Teekay Tankers's payout ratio is currently 12.42%.

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.

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