Hartree Partners LP Takes $267,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

Hartree Partners LP acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, HoldingsChannel reports. The firm acquired 6,700 shares of the shipping company’s stock, valued at approximately $267,000.

A number of other hedge funds also recently made changes to their positions in TNK. R Squared Ltd acquired a new stake in Teekay Tankers in the 4th quarter valued at about $41,000. Millburn Ridgefield Corp purchased a new stake in shares of Teekay Tankers during the third quarter worth $132,000. New Age Alpha Advisors LLC acquired a new position in Teekay Tankers in the fourth quarter worth approximately $132,000. Steward Partners Investment Advisory LLC boosted its holdings in Teekay Tankers by 7.3% in the fourth 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 in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Teekay Tankers in the 4th quarter valued at approximately $247,000. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Trading Up 1.3 %

TNK opened at $38.66 on Friday. Teekay Tankers Ltd. has a 1-year low of $35.23 and a 1-year high of $74.20. The stock has a market cap of $1.33 billion, a PE ratio of 3.42 and a beta of -0.44. The stock’s fifty day simple moving average is $39.90 and its 200 day simple moving average is $44.71.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s payout ratio is presently 8.83%.

Analysts Set New Price Targets

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