Raymond James & Associates Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

Raymond James & Associates bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,326 shares of the shipping company’s stock, valued at approximately $566,000.

Other institutional investors have also modified their holdings of the company. CWM LLC boosted its position in Teekay Tankers by 10,816.7% during the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after acquiring an additional 649 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Teekay Tankers during the third quarter worth about $35,000. Linden Thomas Advisory Services LLC boosted its position in Teekay Tankers by 14.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 6,994 shares of the shipping company’s stock worth $291,000 after acquiring an additional 896 shares during the last quarter. Assetmark Inc. boosted its position in Teekay Tankers by 175.0% during the third quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock worth $63,000 after acquiring an additional 961 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Teekay Tankers by 666.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock worth $62,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TNK. Evercore ISI lowered their price target on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. StockNews.com raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd. Finally, Bank of America raised shares of Teekay Tankers from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $72.00 in a research note on Friday, January 19th.

Teekay Tankers Price Performance

Shares of TNK stock opened at $58.13 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02. The firm’s 50-day moving average is $56.48 and its two-hundred day moving average is $53.52. Teekay Tankers Ltd. has a 12 month low of $35.00 and a 12 month high of $64.42. The company has a market capitalization of $1.98 billion, a PE ratio of 3.91, a price-to-earnings-growth ratio of 1.32 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) 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 net margin of 37.65% and a return on equity of 36.16%. Analysts predict that Teekay Tankers Ltd. will post 14.28 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers’s dividend payout ratio (DPR) is 6.73%.

About Teekay Tankers

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.