Renaissance Technologies LLC Increases Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Renaissance Technologies LLC raised its holdings in Teekay Tankers Ltd. (NYSE:TNK – Get Rating) by 117.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 198,312 shares of the shipping company’s stock after buying an additional 107,012 shares during the period. Renaissance Technologies LLC owned approximately 0.59% of Teekay Tankers worth $5,462,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TNK. Allspring Global Investments Holdings LLC grew its stake in shares of Teekay Tankers by 127.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,401 shares of the shipping company’s stock worth $38,000 after purchasing an additional 785 shares in the last quarter. Ellevest Inc. boosted its stake in Teekay Tankers by 1,597.3% in the third quarter. Ellevest Inc. now owns 1,239 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 1,166 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Teekay Tankers by 16.1% in the third quarter. New York State Common Retirement Fund now owns 15,389 shares of the shipping company’s stock valued at $424,000 after acquiring an additional 2,132 shares in the last quarter. Barclays PLC boosted its stake in Teekay Tankers by 43.9% in the third quarter. Barclays PLC now owns 7,551 shares of the shipping company’s stock valued at $209,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Teekay Tankers by 2.5% in the first quarter. Vanguard Group Inc. now owns 98,450 shares of the shipping company’s stock valued at $1,363,000 after acquiring an additional 2,394 shares in the last quarter. Hedge funds and other institutional investors own 28.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TheStreet upgraded shares of Teekay Tankers from a “c” rating to a “b” rating in a research note on Thursday, February 23rd. StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Monday, February 27th. Finally, Jefferies Financial Group upped their price objective on shares of Teekay Tankers from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.00.

Teekay Tankers Trading Down 0.8 %

Shares of TNK opened at $44.64 on Friday. Teekay Tankers Ltd. has a fifty-two week low of $11.90 and a fifty-two week high of $48.05. The firm has a 50-day simple moving average of $35.03 and a 200-day simple moving average of $31.93. The company has a current ratio of 2.70, a quick ratio of 2.34 and a debt-to-equity ratio of 0.44.

Teekay Tankers (NYSE:TNK – Get Rating) last announced its earnings results on Thursday, February 23rd. The shipping company reported $4.33 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.82. Teekay Tankers had a net margin of 21.55% and a return on equity of 23.65%. The business had revenue of $367.30 million during the quarter, compared to the consensus estimate of $211.54 million. During the same quarter in the prior year, the firm earned ($0.74) earnings per share. The business’s quarterly revenue was up 129.1% compared to the same quarter last year. Equities analysts forecast that Teekay Tankers Ltd. will post 11.32 EPS for the current year.

Teekay Tankers Company Profile

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Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Tanker and Ship-to-Ship (STS) Transfer segment. The Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts.