Aviva PLC Decreases Stock Position in Teekay Tankers Ltd. $TNK

Aviva PLC trimmed its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 34.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,368 shares of the shipping company’s stock after selling 5,405 shares during the quarter. Aviva PLC’s holdings in Teekay Tankers were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TNK. Fox Run Management L.L.C. purchased a new position in shares of Teekay Tankers in the 2nd quarter valued at about $383,000. Cornerstone Investment Partners LLC acquired a new stake in Teekay Tankers in the second quarter valued at approximately $201,000. Ellevest Inc. lifted its stake in Teekay Tankers by 30.5% in the second quarter. Ellevest Inc. now owns 9,400 shares of the shipping company’s stock worth $392,000 after acquiring an additional 2,197 shares during the last quarter. Rossby Financial LCC acquired a new position in Teekay Tankers during the 2nd quarter worth approximately $209,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in Teekay Tankers by 89.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 24,693 shares of the shipping company’s stock worth $1,030,000 after acquiring an additional 11,675 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of TNK opened at $62.44 on Friday. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $63.19. The stock has a market cap of $2.15 billion, a PE ratio of 6.94 and a beta of -0.11. The firm has a fifty day moving average price of $55.07 and a 200 day moving average price of $48.58.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $133.65 million. During the same quarter last year, the company posted $0.23 earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, equities analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Monday, November 10th will be given a dividend of $0.25 per share. 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 payout ratio is 11.11%.

Analyst Ratings Changes

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