Sei Investments Co. Purchases 6,652 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Sei Investments Co. raised its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 9.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,243 shares of the shipping company’s stock after purchasing an additional 6,652 shares during the quarter. Sei Investments Co. owned 0.23% of Teekay Tankers worth $5,453,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Tucker Asset Management LLC purchased a new position in shares of Teekay Tankers during the 4th quarter valued at $38,000. Fifth Third Bancorp boosted its stake in shares of Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after acquiring an additional 456 shares during the period. EntryPoint Capital LLC grew its position in shares of Teekay Tankers by 76.5% during the first quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock worth $51,000 after purchasing an additional 378 shares in the last quarter. Blue Trust Inc. raised its stake in Teekay Tankers by 14.7% during the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock valued at $92,000 after purchasing an additional 172 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in Teekay Tankers in the 2nd quarter worth approximately $204,000. 52.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Evercore ISI boosted their price target on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reissued a “buy” rating and set a $76.00 price objective on shares of Teekay Tankers in a report on Thursday, August 1st. Finally, Bank of America reduced their target price on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Teekay Tankers Trading Down 0.1 %

NYSE:TNK opened at $58.25 on Tuesday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 4.12, a price-to-earnings-growth ratio of 1.46 and a beta of -0.32. Teekay Tankers Ltd. has a twelve month low of $37.20 and a twelve month high of $74.20. The stock has a fifty day simple moving average of $57.10 and a 200-day simple moving average of $61.68.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.11 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.13). Teekay Tankers had a net margin of 36.04% and a return on equity of 26.34%. The firm had revenue of $296.60 million during the quarter, compared to the consensus estimate of $192.19 million. During the same quarter in the previous year, the firm earned $4.38 earnings per share. The business’s revenue was down 20.0% compared to the same quarter last year. As a group, equities research analysts predict that Teekay Tankers Ltd. will post 13.33 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Teekay Tankers’s dividend payout ratio is currently 7.07%.

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.