Integrated Advisors Network LLC Acquires New Position in Teekay Tankers Ltd. (NYSE:TNK)

Integrated Advisors Network LLC acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,558 shares of the shipping company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. increased its position in Teekay Tankers by 7.8% during 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 last quarter. Renaissance Technologies LLC grew its holdings in Teekay Tankers by 1.8% during the 4th quarter. Renaissance Technologies LLC now owns 602,412 shares of the shipping company’s stock valued at $23,970,000 after purchasing an additional 10,900 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Teekay Tankers by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 349,161 shares of the shipping company’s stock valued at $13,893,000 after purchasing an additional 8,814 shares in the last quarter. Geode Capital Management LLC grew its holdings in Teekay Tankers by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company’s stock valued at $12,771,000 after purchasing an additional 2,978 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Teekay Tankers by 1.5% during the 4th quarter. Northern Trust Corp now owns 247,898 shares of the shipping company’s stock valued at $9,864,000 after acquiring an additional 3,776 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $47.63 on Monday. The firm’s 50-day moving average is $42.85 and its 200-day moving average is $40.95. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $72.30. The company has a market cap of $1.63 billion, a P/E ratio of 4.21 and a beta of -0.03.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). The firm had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The company’s revenue for the quarter was down 37.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.23 earnings per share. As a group, sell-side analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The company also recently disclosed a — dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from Teekay Tankers’s previous — dividend of $0.25. This represents a yield of 2.3%. Teekay Tankers’s dividend payout ratio (DPR) is currently 10.72%.

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.