Pacer Advisors Inc. Has $8.58 Million Holdings in Teekay Tankers Ltd. $TNK

Pacer Advisors Inc. cut its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,736 shares of the shipping company’s stock after selling 83,585 shares during the period. Pacer Advisors Inc. owned 0.49% of Teekay Tankers worth $8,580,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. TD Private Client Wealth LLC raised its position 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 valued at $87,000 after acquiring an additional 240 shares in the last quarter. Raymond James Financial Inc. grew its position in Teekay Tankers by 2.3% in the second quarter. Raymond James Financial Inc. now owns 15,978 shares of the shipping company’s stock worth $667,000 after acquiring an additional 366 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Teekay Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock valued at $546,000 after purchasing an additional 610 shares in the last quarter. Finally, Kendall Capital Management lifted its stake in shares of Teekay Tankers by 4.3% in 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 during the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $54.42 on Monday. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $63.71. The firm has a market capitalization of $1.88 billion, a PE ratio of 6.05 and a beta of -0.28. The business’s 50-day simple moving average is $57.74 and its 200-day simple moving average is $51.11.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, October 29th. The shipping company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. Teekay Tankers had a return on equity of 10.63% and a net margin of 32.87%.The firm had revenue of $229.02 million for the quarter, compared to analyst estimates of $133.65 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was down 16.5% on a year-over-year basis. Research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on TNK shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 22nd. Clarkson Capital upgraded Teekay Tankers to a “strong-buy” rating in a research note on Wednesday, October 8th. Zacks Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Jefferies Financial Group raised their price objective on Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Evercore ISI upped their target price on Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.