Wexford Capital LP increased its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 276.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,899 shares of the shipping company's stock after purchasing an additional 39,567 shares during the period. Wexford Capital LP owned approximately 0.16% of Teekay Tankers worth $2,145,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP acquired a new position in Teekay Tankers during the fourth quarter worth about $8,980,000. Millennium Management LLC purchased a new position in Teekay Tankers during the fourth quarter worth approximately $8,110,000. Empowered Funds LLC purchased a new position in Teekay Tankers during the fourth quarter worth approximately $7,248,000. Marshall Wace LLP raised its stake in Teekay Tankers by 262.6% during the fourth quarter. Marshall Wace LLP now owns 216,805 shares of the shipping company's stock worth $8,627,000 after purchasing an additional 157,015 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Teekay Tankers during the fourth quarter worth approximately $5,131,000. 52.67% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on TNK shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI cut their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.
Read Our Latest Stock Analysis on Teekay Tankers
Teekay Tankers Stock Up 2.1%
Shares of NYSE:TNK opened at $46.84 on Monday. The company has a market cap of $1.61 billion, a PE ratio of 4.14 and a beta of -0.10. The company's 50-day moving average price is $40.11 and its 200 day moving average price is $40.82. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 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 company had revenue of $115.64 million for the quarter, compared to the consensus estimate of $146.31 million. During the same quarter last year, the firm posted $4.23 earnings per share. The firm's quarterly revenue was down 37.1% compared to the same quarter last year. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current year.
Teekay Tankers Increases Dividend
The firm also recently disclosed a -- dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a $1.00 dividend. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 2.3%. This is a boost from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's payout ratio is currently 10.72%.
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 Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
