Quantbot Technologies LP Buys 47,485 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Quantbot Technologies LP lifted its stake in Teekay Tankers Ltd. (NYSE:TNK) by 492.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,135 shares of the shipping company’s stock after acquiring an additional 47,485 shares during the period. Quantbot Technologies LP’s holdings in Teekay Tankers were worth $2,273,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TNK. Steward Partners Investment Advisory LLC boosted its stake in Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after buying an additional 286 shares during the period. Kendall Capital Management boosted its stake in Teekay Tankers by 3.3% during the fourth quarter. Kendall Capital Management now owns 17,965 shares of the shipping company’s stock valued at $715,000 after buying an additional 580 shares during the period. R Squared Ltd bought a new stake in Teekay Tankers during the fourth quarter valued at $41,000. Magnetar Financial LLC boosted its stake in Teekay Tankers by 30.3% during the fourth quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company’s stock valued at $248,000 after buying an additional 1,445 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its stake in Teekay Tankers by 21.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock valued at $493,000 after buying an additional 2,211 shares during the period. 52.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective 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 assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Teekay Tankers has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Stock Down 3.5 %

NYSE TNK opened at $38.57 on Monday. The stock’s 50-day simple moving average is $40.64 and its two-hundred day simple moving average is $45.17. Teekay Tankers Ltd. has a twelve month low of $35.23 and a twelve month high of $74.20. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.41 and a beta of -0.44.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating 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 the consensus estimate of $158.26 million. On average, equities analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

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

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.