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 %
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
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.
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