Oxford Asset Management LLP Purchases New Stake in Teekay Tankers Ltd. (NYSE:TNK)

Oxford Asset Management LLP bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing 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 and hedge funds also recently modified their holdings of the business. Barclays PLC lifted its stake in Teekay Tankers by 273.7% in the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock valued at $1,833,000 after buying an additional 23,051 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock valued at $52,815,000 after acquiring an additional 80,217 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Teekay Tankers during the fourth quarter valued at $5,131,000. ABC Arbitrage SA purchased a new stake in Teekay Tankers during the 4th quarter worth about $372,000. Finally, Proficio Capital Partners LLC acquired a new position in Teekay Tankers in the 4th quarter valued at about $629,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TNK shares. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. Evercore ISI cut their price target on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Trading Up 2.0 %

Shares of NYSE TNK traded up $0.87 on Friday, reaching $44.14. 445,002 shares of the company traded hands, compared to its average volume of 381,500. The stock has a market capitalization of $1.51 billion, a PE ratio of 3.90 and a beta of -0.10. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20. The company has a 50 day moving average of $38.53 and a 200 day moving average of $41.27.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. The firm had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. As a group, research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, March 3rd. Teekay Tankers's dividend payout ratio (DPR) is currently 8.83%.

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.