Strs Ohio Purchases 5,300 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Strs Ohio increased its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 55.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,900 shares of the shipping company’s stock after buying an additional 5,300 shares during the quarter. Strs Ohio’s holdings in Teekay Tankers were worth $744,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in shares of 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 buying an additional 649 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Teekay Tankers during the third quarter worth about $35,000. PNC Financial Services Group Inc. grew its holdings in shares of 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 buying an additional 1,300 shares in the last quarter. Assetmark Inc. grew its holdings in shares of 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 buying an additional 961 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Teekay Tankers during the third quarter worth about $97,000. 52.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Teekay Tankers Stock Performance

Shares of NYSE TNK opened at $58.13 on Friday. The stock has a 50 day moving average price of $56.48 and a 200 day moving average price of $53.52. Teekay Tankers Ltd. has a 52 week low of $35.00 and a 52 week high of $64.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. The stock 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 issued its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The company had revenue of $194.46 million for the quarter, compared to analyst estimates of $219.93 million. Analysts predict that Teekay Tankers Ltd. will post 14.28 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

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