Principal Financial Group Inc. Increases Position in Teekay Tankers Ltd. (NYSE:TNK)

Principal Financial Group Inc. grew its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 38.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 828,888 shares of the shipping company's stock after buying an additional 231,921 shares during the period. Principal Financial Group Inc. owned 2.43% of Teekay Tankers worth $41,420,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Teekay Tankers by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company's stock worth $100,964,000 after purchasing an additional 54,886 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Teekay Tankers by 94.3% during the 3rd quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company's stock valued at $17,022,000 after buying an additional 198,613 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Teekay Tankers by 180.8% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 182,816 shares of the shipping company's stock valued at $7,611,000 after buying an additional 117,716 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Teekay Tankers by 24.0% in the third quarter. American Century Companies Inc. now owns 176,957 shares of the shipping company's stock worth $7,367,000 after buying an additional 34,232 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Teekay Tankers during the fourth quarter worth $6,243,000. 52.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TNK. Bank of America lifted their price target on shares of Teekay Tankers from $66.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 10th. Evercore ISI dropped their price target on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. StockNews.com raised Teekay Tankers from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Jefferies Financial Group increased their target price on Teekay Tankers from $70.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, May 9th.

Teekay Tankers Trading Down 0.5 %

Shares of NYSE:TNK traded down $0.39 during trading on Friday, reaching $71.85. The company's stock had a trading volume of 329,459 shares, compared to its average volume of 421,219. The stock has a market capitalization of $2.46 billion, a PE ratio of 5.08, a price-to-earnings-growth ratio of 1.62 and a beta of -0.27. Teekay Tankers Ltd. has a 12 month low of $35.00 and a 12 month high of $72.76. The firm's 50 day simple moving average is $59.40 and its two-hundred day simple moving average is $55.80.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a net margin of 37.39% and a return on equity of 30.73%. Research analysts anticipate that Teekay Tankers Ltd. will post 14.67 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be paid a dividend of $2.25 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend is Monday, May 20th. Teekay Tankers's payout ratio is 7.07%.

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.