Simplicity Solutions LLC Acquires 255 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Simplicity Solutions LLC increased its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,396 shares of the shipping company’s stock after acquiring an additional 255 shares during the period. Simplicity Solutions LLC’s holdings in Teekay Tankers were worth $370,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in Teekay Tankers during the 2nd quarter worth approximately $9,508,000. BlackRock Inc. grew its holdings in Teekay Tankers by 35.3% during the third quarter. BlackRock Inc. now owns 1,675,406 shares of the shipping company’s stock worth $46,140,000 after buying an additional 437,348 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Teekay Tankers by 706.1% during the second quarter. JPMorgan Chase & Co. now owns 369,594 shares of the shipping company’s stock worth $14,130,000 after buying an additional 323,746 shares in the last quarter. Marshall Wace LLP raised its position in Teekay Tankers by 61.9% in the 4th quarter. Marshall Wace LLP now owns 583,416 shares of the shipping company’s stock valued at $17,975,000 after buying an additional 223,057 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Teekay Tankers by 52.9% during the 3rd quarter. Principal Financial Group Inc. now owns 596,967 shares of the shipping company’s stock valued at $24,852,000 after acquiring an additional 206,561 shares in the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Up 1.8 %

Shares of NYSE:TNK opened at $56.53 on Friday. Teekay Tankers Ltd. has a 1 year low of $35.00 and a 1 year high of $64.42. The company has a market capitalization of $1.93 billion, a PE ratio of 3.80, a price-to-earnings-growth ratio of 1.30 and a beta of -0.28. The business has a fifty day moving average price of $56.61 and a two-hundred day moving average price of $53.01. 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 issued its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). The company had revenue of $194.46 million during the quarter, compared to analysts’ expectations of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. Analysts forecast that Teekay Tankers Ltd. will post 14.28 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, March 1st. Teekay Tankers’s dividend payout ratio is currently 6.73%.

Analyst Ratings Changes

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

Teekay Tankers 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.