Oxford Asset Management LLP Makes New $310,000 Investment in Teekay Tankers Ltd. (NYSE:TNK)

Oxford Asset Management LLP bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,798 shares of the shipping company's stock, valued at approximately $310,000.

Several other institutional investors have also modified their holdings of TNK. Steward Partners Investment Advisory LLC lifted its holdings in shares of Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after purchasing an additional 286 shares during the last quarter. Kendall Capital Management lifted its stake in Teekay Tankers by 3.3% in the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock worth $715,000 after acquiring an additional 580 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Teekay Tankers by 7.0% in the fourth quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock worth $420,000 after purchasing an additional 686 shares in the last quarter. MetLife Investment Management LLC raised its position in Teekay Tankers by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 14,901 shares of the shipping company's stock valued at $593,000 after acquiring an additional 834 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Teekay Tankers during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of NYSE TNK traded down $0.24 during trading on Wednesday, reaching $42.65. 545,100 shares of the stock traded hands, compared to its average volume of 379,772. The company has a 50-day moving average of $38.41 and a 200-day moving average of $41.53. The stock has a market capitalization of $1.46 billion, a P/E ratio of 3.77 and a beta of -0.16. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Analysts expect that Teekay Tankers Ltd. will post 7.13 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 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's dividend payout ratio is currently 8.83%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TNK shares. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, February 20th. Evercore ISI lowered their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teekay Tankers has an average rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Profile

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.