EP Wealth Advisors LLC Makes New $227,000 Investment in Teekay Tankers Ltd. $TNK

EP Wealth Advisors LLC acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,927 shares of the shipping company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TNK. GAMMA Investing LLC raised its stake in shares of Teekay Tankers by 3,882.5% during the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company’s stock worth $750,000 after acquiring an additional 19,102 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Teekay Tankers during the 1st quarter valued at $286,000. Integrated Advisors Network LLC purchased a new position in Teekay Tankers in the 1st quarter worth $213,000. Ameriprise Financial Inc. raised its position in Teekay Tankers by 52.3% in the 4th quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company’s stock worth $6,574,000 after purchasing an additional 56,737 shares during the period. Finally, Millennium Management LLC bought a new stake in Teekay Tankers in the fourth quarter worth $8,110,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Teekay Tankers has a consensus rating of “Moderate Buy” and an average target price of $50.67.

Teekay Tankers Stock Down 1.8%

Shares of Teekay Tankers stock opened at $52.26 on Wednesday. The company’s fifty day simple moving average is $45.80 and its two-hundred day simple moving average is $42.93. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $62.45. The firm has a market cap of $1.79 billion and a PE ratio of 6.49.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). The firm had revenue of $154.23 million for the quarter, compared to analysts’ expectations of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same quarter in the prior year, the company posted $3.11 earnings per share. As a group, sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Teekay Tankers’s payout ratio is 12.42%.

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.