Jacobs Levy Equity Management Inc. Has $11.88 Million Position in Teekay Tankers Ltd. (NYSE:TNK)

Jacobs Levy Equity Management Inc. trimmed its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 298,513 shares of the shipping company's stock after selling 8,219 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.87% of Teekay Tankers worth $11,878,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new position in Teekay Tankers in the 4th quarter valued at about $41,000. Meeder Asset Management Inc. acquired a new stake in Teekay Tankers during the 4th quarter worth approximately $77,000. New Age Alpha Advisors LLC acquired a new position in Teekay Tankers in the 4th quarter valued at $132,000. BNP Paribas Financial Markets bought a new position in Teekay Tankers during the fourth quarter worth about $143,000. Finally, Steward Partners Investment Advisory LLC grew 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 worth $168,000 after purchasing an additional 286 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

TNK traded up $0.95 during trading on Friday, hitting $46.84. 613,319 shares of the stock traded hands, compared to its average volume of 395,162. The business has a 50 day moving average price of $39.89 and a 200 day moving average price of $40.93. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 4.14 and a beta of -0.10. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $115.64 million for the quarter, compared to the consensus estimate of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Teekay Tankers's quarterly 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 earnings per share. On average, equities research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $1.00 per share. This represents a yield of 2.3%. This is a boost from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date is Monday, May 19th. Teekay Tankers's dividend payout ratio is currently 10.72%.

Wall Street Analyst Weigh In

TNK has been the subject of several recent research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI cut 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. One 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

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.