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

Jacobs Levy Equity Management Inc. lessened its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 298,513 shares of the shipping company's stock after selling 8,219 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.87% of Teekay Tankers worth $11,878,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Ellevest Inc. lifted its stake in shares of Teekay Tankers by 14.4% in the fourth quarter. Ellevest Inc. now owns 5,704 shares of the shipping company's stock valued at $227,000 after buying an additional 720 shares during the period. Ethic Inc. lifted its stake in Teekay Tankers by 33.3% during the fourth quarter. Ethic Inc. now owns 10,071 shares of the shipping company's stock worth $401,000 after purchasing an additional 2,516 shares during the period. Corton Capital Inc. bought a new position in Teekay Tankers during the fourth quarter worth about $265,000. Cubist Systematic Strategies LLC bought a new position in Teekay Tankers during the fourth quarter worth about $3,297,000. Finally, Cetera Investment Advisers bought a new position in Teekay Tankers during the fourth quarter worth about $207,000. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded up $0.95 during trading on Friday, reaching $46.84. The stock had a trading volume of 613,319 shares, compared to its average volume of 395,573. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20. The business's 50-day moving average price is $40.11 and its 200 day moving average price is $40.82. The stock has a market capitalization of $1.61 billion, a PE ratio of 4.14 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted 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 net margin of 34.55% and a return on equity of 20.67%. The firm had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. During the same quarter last year, the firm posted $4.23 EPS. The business's revenue was down 37.1% on a year-over-year basis. Analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

The company also recently announced 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 of this dividend 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 10.72%.

Analysts Set New Price Targets

TNK has been the subject of a number of analyst reports. Jefferies Financial Group restated 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 for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Teekay Tankers has a consensus rating of "Moderate Buy" and a consensus price target 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.