GAMMA Investing LLC Increases Stake in Teekay Tankers Ltd. (NYSE:TNK)

GAMMA Investing LLC grew its stake in Teekay Tankers Ltd. (NYSE:TNK) by 3,882.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,594 shares of the shipping company’s stock after buying an additional 19,102 shares during the quarter. GAMMA Investing LLC owned 0.06% of Teekay Tankers worth $750,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TNK. Meeder Asset Management Inc. purchased a new position in shares of Teekay Tankers in the 4th quarter valued at about $77,000. New Age Alpha Advisors LLC purchased a new stake in Teekay Tankers during the fourth quarter worth approximately $132,000. BNP Paribas Financial Markets purchased a new stake in Teekay Tankers during the fourth quarter worth approximately $143,000. Steward Partners Investment Advisory LLC lifted its stake in Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after purchasing an additional 286 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Teekay Tankers during the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

TNK has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI decreased their target price on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned 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.com, Teekay Tankers has a consensus rating of “Moderate Buy” and an average target price of $50.67.

Teekay Tankers Trading Up 2.9%

Shares of NYSE TNK opened at $47.23 on Wednesday. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $72.30. The stock has a 50 day moving average of $43.29 and a two-hundred day moving average of $41.03. The stock has a market cap of $1.62 billion, a P/E ratio of 5.06 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 analysts’ consensus estimates of $1.53 by ($0.32). Teekay Tankers had a net margin of 31.45% and a return on equity of 15.05%. The firm had revenue of $115.64 million during the quarter, compared to analysts’ expectations of $146.31 million. During the same quarter in the prior year, the firm posted $4.23 EPS. Teekay Tankers’s quarterly revenue was down 37.1% compared to the same quarter last year. As a group, research 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. Shareholders of record on Monday, May 19th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a yield of 2.3%. This is a boost from Teekay Tankers’s previous — dividend of $0.25. Teekay Tankers’s payout ratio is currently 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.