ABC Arbitrage SA Invests $218,000 in Teekay Tankers Ltd. $TNK

ABC Arbitrage SA bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,230 shares of the shipping company’s stock, valued at approximately $218,000.

A number of other institutional investors have also added to or reduced their stakes in TNK. GAMMA Investing LLC grew its stake in Teekay Tankers by 77.0% in the second quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 394 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Teekay Tankers by 13.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 2,084 shares of the shipping company’s stock worth $87,000 after purchasing an additional 240 shares in the last quarter. CWM LLC grew its position in 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 during the period. U S Global Investors Inc. acquired a new stake in Teekay Tankers in the 2nd quarter valued at $158,000. Finally, Cable Hill Partners LLC bought a new stake in Teekay Tankers during the 1st quarter valued at $184,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Up 1.6%

Teekay Tankers stock opened at $61.80 on Thursday. The firm has a 50 day moving average price of $54.64 and a 200-day moving average price of $48.34. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $62.09. The company has a market capitalization of $2.13 billion, a P/E ratio of 6.87 and a beta of -0.11.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.50 by $0.04. The business had revenue of $115.21 million for 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%.Teekay Tankers’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TNK shares. Clarkson Capital raised shares of Teekay Tankers to a “strong-buy” rating in a research note on Wednesday, October 8th. Evercore ISI raised their price target on shares of Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Zacks Research upgraded Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group increased their price objective on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Teekay Tankers in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.