International Assets Investment Management LLC acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 124,925 shares of the shipping company's stock, valued at approximately $6,243,000. International Assets Investment Management LLC owned approximately 0.37% of Teekay Tankers at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of TNK. CWM LLC lifted its position in shares of Teekay Tankers by 10,816.7% during the 3rd quarter. CWM LLC now owns 655 shares of the shipping company's stock worth $27,000 after buying an additional 649 shares during the period. BluePath Capital Management LLC bought a new position in shares of Teekay Tankers during the 3rd quarter worth approximately $35,000. FMR LLC lifted its position in shares of Teekay Tankers by 41.9% during the 1st quarter. FMR LLC now owns 1,019 shares of the shipping company's stock worth $44,000 after buying an additional 301 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Teekay Tankers during the 4th quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Teekay Tankers by 666.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company's stock worth $62,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 52.67% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on TNK shares. Evercore ISI cut their target price on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a research report on Friday, February 23rd. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 price objective on shares of Teekay Tankers in a research report on Thursday, February 22nd. StockNews.com upgraded Teekay Tankers from a "hold" rating to a "buy" rating in a research report on Thursday, March 21st. Finally, Bank of America upgraded Teekay Tankers from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $56.00 to $72.00 in a research report on Friday, January 19th.
Check Out Our Latest Stock Report on Teekay Tankers
Teekay Tankers Price Performance
TNK traded down $0.16 during trading on Monday, hitting $57.52. The company's stock had a trading volume of 280,929 shares, compared to its average volume of 456,667. The firm's 50 day moving average price is $56.67 and its two-hundred day moving average price is $52.74. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. Teekay Tankers Ltd. has a 12 month low of $35.00 and a 12 month high of $64.42. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 3.87, a price-to-earnings-growth ratio of 1.35 and a beta of -0.28.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts' consensus estimates of $3.68 by ($0.81). The firm had revenue of $194.46 million for the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. Sell-side analysts forecast that Teekay Tankers Ltd. will post 14.28 earnings per share for the current fiscal year.
Teekay Tankers Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Teekay Tankers's payout ratio is currently 6.73%.
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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