Glenorchy Capital Ltd purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 55,766 shares of the shipping company's stock, valued at approximately $2,787,000. Teekay Tankers comprises approximately 1.1% of Glenorchy Capital Ltd's portfolio, making the stock its 10th largest holding. Glenorchy Capital Ltd owned about 0.16% of Teekay Tankers at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of TNK. Linden Thomas Advisory Services LLC raised its position in Teekay Tankers by 26.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 8,843 shares of the shipping company's stock valued at $442,000 after purchasing an additional 1,849 shares in the last quarter. Federated Hermes Inc. raised its position in Teekay Tankers by 85.9% during the 4th quarter. Federated Hermes Inc. now owns 14,438 shares of the shipping company's stock valued at $721,000 after purchasing an additional 6,671 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Teekay Tankers during the 4th quarter valued at $80,000. Mackenzie Financial Corp bought a new stake in Teekay Tankers during the 4th quarter valued at $227,000. Finally, Strs Ohio raised its position in Teekay Tankers by 55.2% during the 4th quarter. Strs Ohio now owns 14,900 shares of the shipping company's stock valued at $744,000 after purchasing an additional 5,300 shares in the last quarter. 52.67% of the stock is owned by institutional investors.
Teekay Tankers Stock Up 0.4 %
Shares of TNK traded up $0.21 during trading hours on Tuesday, hitting $56.48. The company had a trading volume of 201,834 shares, compared to its average volume of 440,963. The company has a market capitalization of $1.93 billion, a PE ratio of 3.80, a price-to-earnings-growth ratio of 1.32 and a beta of -0.28. The company has a current ratio of 4.40, a quick ratio of 4.02 and a debt-to-equity ratio of 0.08. Teekay Tankers Ltd. has a one year low of $35.00 and a one year high of $64.42. The company's fifty day moving average price is $56.52 and its two-hundred day moving average price is $53.46.
Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.81). The company had revenue of $194.46 million during 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%. As a group, equities analysts forecast that Teekay Tankers Ltd. will post 14.28 earnings per share for the current fiscal year.
Teekay Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 annualized dividend and a yield of 1.77%. Teekay Tankers's dividend payout ratio (DPR) is 6.73%.
Wall Street Analyst Weigh In
TNK has been the subject of a number of research analyst reports. Evercore ISI decreased 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. Bank of America raised Teekay Tankers from a "neutral" rating to a "buy" rating and lifted their target price for the company from $56.00 to $72.00 in a research report on Friday, January 19th. Jefferies Financial Group reaffirmed a "buy" rating and set a $70.00 target price on shares of Teekay Tankers in a research report on Thursday, February 22nd. Finally, StockNews.com raised Teekay Tankers from a "hold" rating to a "buy" rating in a research report on Thursday, March 21st.
Get Our Latest Analysis on TNK
Teekay Tankers 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.
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