Geode Capital Management LLC Has $15.09 Million Holdings in Teekay Tankers Ltd. $TNK

Geode Capital Management LLC boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 361,609 shares of the shipping company’s stock after acquiring an additional 14,052 shares during the quarter. Geode Capital Management LLC owned 1.05% of Teekay Tankers worth $15,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TNK. TD Private Client Wealth LLC boosted its position in Teekay Tankers by 13.0% in the second quarter. TD Private Client Wealth LLC now owns 2,084 shares of the shipping company’s stock valued at $87,000 after buying an additional 240 shares in the last quarter. Martingale Asset Management L P grew its position in shares of Teekay Tankers by 0.4% during the 1st quarter. Martingale Asset Management L P now owns 64,789 shares of the shipping company’s stock worth $2,479,000 after buying an additional 248 shares during the period. GAMMA Investing LLC raised its holdings in shares of Teekay Tankers by 77.0% during the second quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Teekay Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock valued at $546,000 after acquiring an additional 610 shares during the period. Finally, Kendall Capital Management increased its stake in Teekay Tankers by 4.3% during the 2nd quarter. Kendall Capital Management now owns 20,215 shares of the shipping company’s stock valued at $843,000 after purchasing an additional 825 shares in the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Trading Down 3.7%

Teekay Tankers stock opened at $55.53 on Tuesday. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $63.71. The firm has a market cap of $1.92 billion, a P/E ratio of 6.17 and a beta of -0.11. The firm has a 50-day moving average of $56.49 and a 200-day moving average of $49.80.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.04. Teekay Tankers had a net margin of 32.87% and a return on equity of 10.81%. The business had revenue of $229.02 million for the quarter, compared to analysts’ expectations of $133.65 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. Research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Monday, November 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.00 annualized dividend and a yield of 1.8%. Teekay Tankers’s payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. 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. Clarkson Capital upgraded shares of Teekay Tankers to a “strong-buy” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their target price on Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Tuesday, November 25th. Finally, Zacks Research raised shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock 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.