Rhumbline Advisers Cuts Stock Position in Teekay Tankers Ltd. $TNK

Rhumbline Advisers reduced its position in Teekay Tankers Ltd. (NYSE:TNK) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in Teekay Tankers by 49.3% in the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after buying an additional 568 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Teekay Tankers by 19.7% during the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock valued at $71,000 after purchasing an additional 304 shares during the last quarter. CWM LLC raised its stake in Teekay Tankers by 399.3% during the first quarter. CWM LLC now owns 3,480 shares of the shipping company’s stock valued at $133,000 after buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Teekay Tankers during the fourth quarter valued at $143,000. Finally, Cable Hill Partners LLC purchased a new position in Teekay Tankers during the first quarter valued at $184,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TNK shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. Zacks Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Teekay Tankers Trading Down 1.1%

Teekay Tankers stock opened at $54.73 on Friday. The firm has a 50 day moving average of $47.14 and a 200 day moving average of $43.61. The firm has a market capitalization of $1.88 billion and a price-to-earnings ratio of 6.80. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $62.45.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.The business had revenue of $154.23 million during the quarter, compared to analysts’ expectations of $162.67 million. During the same quarter in the previous year, the company posted $3.11 EPS. On average, analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 1.8%. Teekay Tankers’s payout ratio is currently 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.