Paradiem LLC lowered its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,192 shares of the shipping company's stock after selling 19,084 shares during the quarter. Paradiem LLC owned approximately 0.21% of Teekay Tankers worth $3,657,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Semanteon Capital Management LP purchased a new position in Teekay Tankers during the 4th quarter valued at about $974,000. Bailard Inc. grew its stake in Teekay Tankers by 57.0% during the 4th quarter. Bailard Inc. now owns 12,114 shares of the shipping company's stock valued at $605,000 after acquiring an additional 4,400 shares in the last quarter. Glenorchy Capital Ltd purchased a new position in Teekay Tankers during the 4th quarter valued at about $2,787,000. Linden Thomas Advisory Services LLC grew its stake 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 acquiring an additional 1,849 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake 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 acquiring an additional 6,671 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.
Teekay Tankers Stock Up 0.9 %
Shares of Teekay Tankers stock traded up $0.53 during trading on Friday, hitting $58.66. 198,665 shares of the stock traded hands, compared to its average volume of 307,065. The stock has a market cap of $2.00 billion, a P/E ratio of 3.95, a PEG ratio of 1.37 and a beta of -0.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. Teekay Tankers Ltd. has a twelve month low of $35.00 and a twelve month high of $64.42. The company has a fifty day moving average price of $56.49 and a two-hundred day moving average price of $53.83.
Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($0.81). The firm had revenue of $194.46 million for the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. Equities research analysts predict that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.
Teekay Tankers Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 annualized dividend and a yield of 1.70%. Teekay Tankers's dividend payout ratio (DPR) is currently 6.73%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on TNK shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd. 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 note on Friday, January 19th. Evercore ISI reduced their price target on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a report on Friday, February 23rd. Finally, StockNews.com upgraded Teekay Tankers from a "hold" rating to a "buy" rating in a report on Thursday, March 21st.
View Our Latest Stock Report 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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