Teekay Tankers Ltd. $TNK Shares Purchased by TD Private Client Wealth LLC

TD Private Client Wealth LLC increased its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 13.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,084 shares of the shipping company’s stock after purchasing an additional 240 shares during the period. TD Private Client Wealth LLC’s holdings in Teekay Tankers were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TNK. Encompass Capital Advisors LLC acquired a new position in shares of Teekay Tankers during the first quarter worth $17,210,000. Pacer Advisors Inc. acquired a new position in shares of Teekay Tankers during the first quarter worth $11,986,000. Nuveen LLC acquired a new position in shares of Teekay Tankers during the first quarter worth $8,702,000. Millennium Management LLC grew its stake in shares of Teekay Tankers by 24.9% during the first quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after purchasing an additional 50,815 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Teekay Tankers by 107.2% during the first quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company’s stock worth $3,200,000 after purchasing an additional 43,258 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Trading Down 2.0%

Shares of TNK opened at $51.32 on Tuesday. The firm’s 50-day moving average is $48.40 and its two-hundred day moving average is $44.47. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $62.45. The firm has a market capitalization of $1.76 billion and a P/E ratio of 6.38.

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

Teekay Tankers Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on TNK. Zacks Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.