Teekay Tankers Ltd. (NYSE:TNK) Shares Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 29.0% in the 4th quarter, HoldingsChannel reports. The firm owned 68,851 shares of the shipping company’s stock after purchasing an additional 15,477 shares during the period. Great Lakes Advisors LLC’s holdings in Teekay Tankers were worth $2,740,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Teekay Tankers in the 4th quarter valued at about $41,000. Millburn Ridgefield Corp acquired a new position in Teekay Tankers in the 3rd quarter valued at about $132,000. Steward Partners Investment Advisory LLC raised its stake in 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 valued at $168,000 after purchasing an additional 286 shares during the last quarter. Ieq Capital LLC acquired a new position in Teekay Tankers in the 4th quarter valued at about $247,000. Finally, ClearAlpha Technologies LP acquired a new position in Teekay Tankers in the 3rd quarter valued at about $255,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

TNK opened at $37.89 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 3.35 and a beta of -0.44. The business has a 50-day moving average of $40.97 and a two-hundred day moving average of $45.81. Teekay Tankers Ltd. has a 12 month low of $35.23 and a 12 month high of $74.20.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Equities research analysts anticipate 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. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s payout ratio is currently 8.83%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teekay Tankers has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Teekay Tankers Company 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.