Teekay Tankers Ltd. (NYSE:TNK) Stake Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 52.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,228 shares of the shipping company’s stock after purchasing an additional 56,737 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.48% of Teekay Tankers worth $6,574,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TNK. Royce & Associates LP acquired a new position in Teekay Tankers in the fourth quarter worth $8,980,000. Empowered Funds LLC acquired a new position in Teekay Tankers in the fourth quarter worth $7,248,000. Marshall Wace LLP boosted its holdings in Teekay Tankers by 262.6% in the fourth quarter. Marshall Wace LLP now owns 216,805 shares of the shipping company’s stock worth $8,627,000 after purchasing an additional 157,015 shares during the period. Franklin Resources Inc. acquired a new position in Teekay Tankers in the fourth quarter worth $5,131,000. Finally, American Century Companies Inc. boosted its holdings in Teekay Tankers by 7.8% in the fourth quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company’s stock worth $36,394,000 after purchasing an additional 66,332 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TNK. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI reduced their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Teekay Tankers Stock Performance

Shares of TNK opened at $43.36 on Friday. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 3.83 and a beta of -0.10. The firm has a fifty day moving average of $40.69 and a 200-day moving average of $40.85.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.32). Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The firm had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same period last year, the firm posted $4.23 EPS. The business’s revenue was down 37.1% compared to the same quarter last year. Analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a yield of 2.3%. This is an increase from Teekay Tankers’s previous — dividend of $0.25. Teekay Tankers’s dividend payout ratio is presently 10.72%.

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.