American Century Companies Inc. Increases Stock Position in Teekay Tankers Ltd. $TNK

American Century Companies Inc. grew its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 7.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,010,177 shares of the shipping company’s stock after acquiring an additional 70,578 shares during the quarter. American Century Companies Inc. owned about 2.95% of Teekay Tankers worth $42,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC bought a new position in shares of Teekay Tankers during the first quarter valued at approximately $17,210,000. Nuveen LLC purchased a new position in Teekay Tankers in the 1st quarter worth about $8,702,000. Sagil Capital LLP bought a new stake in Teekay Tankers during the 2nd quarter valued at about $7,167,000. Oxbow Advisors LLC purchased a new stake in Teekay Tankers in the 2nd quarter valued at about $4,074,000. Finally, Millennium Management LLC boosted its position in Teekay Tankers by 24.9% in the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock valued at $9,745,000 after buying an additional 50,815 shares during the period. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Trading Down 0.8%

Shares of TNK stock opened at $57.67 on Friday. The business’s fifty day simple moving average is $56.44 and its 200-day simple moving average is $49.67. The company has a market cap of $1.99 billion, a PE ratio of 6.41 and a beta of -0.11. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $63.71.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 earnings per share for the quarter, topping 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 firm had revenue of $229.02 million during the quarter, compared to analysts’ expectations of $133.65 million. During the same quarter last year, the firm earned $0.23 EPS. The business’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Monday, November 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Teekay Tankers’s payout ratio is presently 11.11%.

Wall Street Analysts Forecast Growth

TNK has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research note on Tuesday. Evercore ISI raised their price objective on Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Zacks Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Clarkson Capital raised Teekay Tankers to a “strong-buy” rating in a research report on Wednesday, October 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $65.00.

Teekay Tankers 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.