Teekay Tankers Ltd. $TNK Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its position in Teekay Tankers Ltd. (NYSE:TNK) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,728 shares of the shipping company’s stock after buying an additional 4,830 shares during the quarter. Franklin Resources Inc. owned 0.36% of Teekay Tankers worth $5,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Teekay Tankers by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock worth $38,000 after acquiring an additional 394 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Teekay Tankers by 13.0% during the second 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 during the period. U S Global Investors Inc. purchased a new stake in Teekay Tankers during the second quarter worth about $158,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Teekay Tankers during the second quarter worth about $201,000. Finally, ProShare Advisors LLC purchased a new position in shares of Teekay Tankers in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

TNK has been the topic of several recent research reports. 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. Jefferies Financial Group boosted their price target on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Tuesday, November 25th. 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, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $65.00.

Teekay Tankers Stock Down 3.7%

Shares of Teekay Tankers stock opened at $55.53 on Tuesday. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $63.71. The company has a market capitalization of $1.92 billion, a P/E ratio of 6.17 and a beta of -0.11. The company has a 50 day moving average of $56.49 and a 200 day moving average of $49.80.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. The business had revenue of $229.02 million for the quarter, compared to analyst estimates of $133.65 million. Teekay Tankers had a net margin of 32.87% and a return on equity of 10.81%. The company’s revenue was down 16.5% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. As a group, research analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Monday, November 10th were paid a $0.25 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Teekay Tankers’s dividend payout ratio (DPR) is currently 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.