Bleakley Financial Group LLC Increases Position in Teekay Tankers Ltd. (NYSE:TNK)

Bleakley Financial Group LLC lifted its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,396 shares of the shipping company’s stock after purchasing an additional 255 shares during the period. Bleakley Financial Group LLC’s holdings in Teekay Tankers were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Teekay Tankers by 7.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,110 shares of the shipping company’s stock valued at $555,000 after purchasing an additional 802 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $6,243,000. Ritholtz Wealth Management purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $219,000. Raymond James & Associates purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $566,000. Finally, SG Americas Securities LLC increased its stake in Teekay Tankers by 1,167.5% during the 4th quarter. SG Americas Securities LLC now owns 51,003 shares of the shipping company’s stock worth $2,549,000 after buying an additional 46,979 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TNK shares. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 22nd. StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Evercore ISI lowered their target price on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Finally, Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $72.00 in a report on Friday, January 19th.

Teekay Tankers Trading Down 2.0 %

Shares of Teekay Tankers stock opened at $57.68 on Monday. The stock has a market cap of $1.97 billion, a P/E ratio of 3.88, a P/E/G ratio of 1.35 and a beta of -0.28. The stock’s 50 day simple moving average is $56.67 and its 200-day simple moving average is $52.63. Teekay Tankers Ltd. has a 1-year low of $35.00 and a 1-year high of $64.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The business had revenue of $194.46 million during the quarter, compared to analyst estimates of $219.93 million. Analysts predict that Teekay Tankers Ltd. will post 14.28 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers’s dividend payout ratio is presently 6.73%.

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.