Nisa Investment Advisors LLC Raises Stock Holdings in Teekay Tankers Ltd. $TNK

Nisa Investment Advisors LLC grew its stake in Teekay Tankers Ltd. (NYSE:TNK) by 6,154.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,442 shares of the shipping company’s stock after buying an additional 6,339 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Teekay Tankers were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Linden Thomas Advisory Services LLC increased its position in Teekay Tankers by 28.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,989 shares of the shipping company’s stock worth $751,000 after buying an additional 3,973 shares in the last quarter. Ethic Inc. increased its position in Teekay Tankers by 39.7% in the second quarter. Ethic Inc. now owns 19,985 shares of the shipping company’s stock worth $846,000 after buying an additional 5,678 shares in the last quarter. Denali Advisors LLC raised its position in shares of Teekay Tankers by 45.7% during the 2nd quarter. Denali Advisors LLC now owns 123,798 shares of the shipping company’s stock valued at $5,165,000 after purchasing an additional 38,849 shares during the period. Oxbow Advisors LLC bought a new stake in shares of Teekay Tankers during the 2nd quarter valued at $4,074,000. Finally, CWM LLC raised its position in shares of Teekay Tankers by 124.2% during the 2nd quarter. CWM LLC now owns 7,803 shares of the shipping company’s stock valued at $326,000 after purchasing an additional 4,323 shares during the period. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Teekay Tankers in a research report on Wednesday, October 8th. Zacks Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Jefferies Financial Group increased their target price on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Clarkson Capital upgraded Teekay Tankers to a “strong-buy” rating in a research report on Wednesday, October 8th. Finally, Evercore ISI increased their target price on Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.67.

Teekay Tankers Trading Down 0.4%

Shares of Teekay Tankers stock opened at $60.77 on Tuesday. The stock has a 50 day moving average of $52.96 and a 200 day moving average of $47.37. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $61.25. The firm has a market cap of $2.08 billion, a PE ratio of 6.75 and a beta of -0.07.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. Teekay Tankers had a return on equity of 10.81% and a net margin of 32.87%.The company had revenue of $115.21 million during the quarter, compared to analyst estimates of $133.65 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Monday, November 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Teekay Tankers’s dividend payout ratio is presently 11.11%.

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.