Teekay Tankers Ltd. $TNK Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 89.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,693 shares of the shipping company’s stock after buying an additional 11,675 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.07% of Teekay Tankers worth $1,030,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TNK. GAMMA Investing LLC raised its position in shares of Teekay Tankers by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 394 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Teekay Tankers by 19.7% in the 1st 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 in the last quarter. CWM LLC raised its position in shares of Teekay Tankers by 399.3% in the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company’s stock valued at $133,000 after purchasing an additional 2,783 shares in the last quarter. U S Global Investors Inc. acquired a new position in shares of Teekay Tankers in the 2nd quarter valued at approximately $158,000. Finally, Cable Hill Partners LLC acquired a new position in shares of Teekay Tankers in the 1st quarter valued at approximately $184,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TNK shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Teekay Tankers in a research report on Wednesday, October 8th. Evercore ISI upped their target price on Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Clarkson Capital raised Teekay Tankers to a “strong-buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group upped their target price on Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Zacks Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.67.

Teekay Tankers Stock Down 0.4%

Shares of NYSE:TNK opened at $60.77 on Tuesday. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $61.25. The firm has a 50-day simple moving average of $52.96 and a 200 day simple moving average of $47.37. The company 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 issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.04. The firm had revenue of $115.21 million during the quarter, compared to the consensus estimate of $133.65 million. Teekay Tankers had a return on equity of 10.81% and a net margin of 32.87%.The firm’s revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. As a group, research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, November 10th. 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.