Wexford Capital LP grew its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 276.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,899 shares of the shipping company's stock after acquiring an additional 39,567 shares during the quarter. Wexford Capital LP owned about 0.16% of Teekay Tankers worth $2,145,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TNK. R Squared Ltd acquired a new position in shares of Teekay Tankers during the 4th quarter valued at about $41,000. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers during the 4th quarter valued at about $77,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers during the 4th quarter valued at about $132,000. BNP Paribas Financial Markets acquired a new position in shares of Teekay Tankers during the 4th quarter valued at about $143,000. Finally, Steward Partners Investment Advisory LLC increased its position in 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 worth $168,000 after purchasing an additional 286 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on TNK. Jefferies Financial Group reissued a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI decreased their price target on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.67.
Check Out Our Latest Report on Teekay Tankers
Teekay Tankers Price Performance
NYSE TNK traded up $1.24 on Friday, reaching $44.54. The company had a trading volume of 278,725 shares, compared to its average volume of 396,672. The firm has a market capitalization of $1.53 billion, a PE ratio of 3.93 and a beta of -0.10. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20. The firm has a 50-day moving average of $40.81 and a 200-day moving average of $40.84.
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 analysts' consensus estimates of $1.53 by ($0.32). The company had revenue of $115.64 million during the quarter, compared to analysts' expectations of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm's revenue was down 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.23 EPS. As a group, sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.
Teekay Tankers Increases Dividend
The firm also recently announced a -- dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.00 per share. This is a boost from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. The ex-dividend date is Monday, May 19th. Teekay Tankers's dividend payout ratio is 10.72%.
About Teekay Tankers
(
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.
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