Teekay Tankers Ltd. $TNK Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its stake in Teekay Tankers Ltd. (NYSE:TNK) by 6.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,077,363 shares of the shipping company’s stock after acquiring an additional 67,186 shares during the quarter. American Century Companies Inc. owned approximately 3.12% of Teekay Tankers worth $54,461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TNK. State of Alaska Department of Revenue purchased a new stake in shares of Teekay Tankers during the third quarter valued at $54,000. Global Retirement Partners LLC raised its holdings in Teekay Tankers by 162.6% during the 3rd quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock worth $104,000 after buying an additional 1,278 shares during the period. Quantbot Technologies LP purchased a new stake in Teekay Tankers during the third quarter valued at about $111,000. Osaic Holdings Inc. boosted its holdings in shares of Teekay Tankers by 85.9% in the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock worth $101,000 after buying an additional 1,123 shares during the period. Finally, State of Wyoming acquired a new position in shares of Teekay Tankers in the second quarter worth about $129,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Evercore reiterated an “outperform” rating and set a $84.00 price target on shares of Teekay Tankers in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $77.00.

Teekay Tankers Trading Down 5.5%

TNK opened at $73.05 on Friday. The stock has a fifty day moving average price of $64.66 and a 200 day moving average price of $57.97. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $82.24. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 7.24 and a beta of -0.32.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.09. The company had revenue of $158.78 million for the quarter, compared to analyst estimates of $179.70 million. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. As a group, sell-side 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 will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. Teekay Tankers’s dividend payout ratio (DPR) is presently 9.91%.

About Teekay Tankers

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.