Mackenzie Financial Corp Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

Mackenzie Financial Corp bought a new position in Teekay Tankers Ltd. (NYSE:TNK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,540 shares of the shipping company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TNK. CWM LLC lifted 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 purchasing an additional 649 shares during the period. AE Wealth Management LLC purchased a new position in Teekay Tankers during the 3rd quarter worth approximately $519,000. Linden Thomas Advisory Services LLC lifted its stake in Teekay Tankers by 14.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 6,994 shares of the shipping company’s stock valued at $291,000 after acquiring an additional 896 shares during the period. Bailard Inc. boosted its holdings in shares of Teekay Tankers by 28.6% in the 3rd quarter. Bailard Inc. now owns 7,714 shares of the shipping company’s stock valued at $321,000 after acquiring an additional 1,714 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new stake in shares of Teekay Tankers in the third quarter worth $35,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $58.66 on Monday. 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 firm has a market cap of $2.00 billion, a PE ratio of 3.95, a PEG ratio of 1.37 and a beta of -0.28. Teekay Tankers Ltd. has a one year low of $35.00 and a one year high of $64.42. The firm has a fifty day moving average of $56.49 and a 200 day moving average of $53.83.

Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). The company had revenue of $194.46 million for 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%. As a group, research analysts predict that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.70%. Teekay Tankers’s dividend payout ratio (DPR) is presently 6.73%.

Analysts Set New Price Targets

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

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.