Rhumbline Advisers Sells 1,631 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Rhumbline Advisers lowered its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,318 shares of the shipping company’s stock after selling 1,631 shares during the quarter. Rhumbline Advisers owned 0.11% of Teekay Tankers worth $1,466,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $77,000. New Age Alpha Advisors LLC bought a new position in Teekay Tankers in the 4th quarter valued at $132,000. BNP Paribas Financial Markets bought a new position in Teekay Tankers in the 4th quarter valued at $143,000. Steward Partners Investment Advisory LLC grew its position in Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 286 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Teekay Tankers in the 4th quarter valued at $207,000. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Trading Down 1.2%

TNK opened at $46.64 on Thursday. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $72.30. The business’s fifty day simple moving average is $43.50 and its 200-day simple moving average is $41.07. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 5.00 and a beta of -0.03.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.32). Teekay Tankers had a return on equity of 15.05% and a net margin of 31.45%. The firm had revenue of $115.64 million for the quarter, compared to the consensus estimate of $146.31 million. During the same period in the previous year, the company posted $4.23 EPS. Teekay Tankers’s quarterly revenue was down 37.1% compared to the same quarter last year. On average, equities research analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

The company also recently declared a — dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $1.00 per share. This is an increase from Teekay Tankers’s previous — dividend of $0.25. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 2.3%. Teekay Tankers’s dividend payout ratio is presently 10.72%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Evercore ISI cut their price objective on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, May 8th. One investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

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.