Teekay Tankers Ltd. (NYSE:TNK) Stock Position Increased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its position in Teekay Tankers Ltd. (NYSE:TNK) by 155.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,992 shares of the shipping company’s stock after buying an additional 9,127 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Teekay Tankers were worth $597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TNK. R Squared Ltd acquired a new stake in shares of Teekay Tankers during the fourth quarter worth $41,000. Millburn Ridgefield Corp acquired a new stake in shares of Teekay Tankers during the third quarter worth $132,000. US Bancorp DE acquired a new stake in shares of Teekay Tankers during the third quarter worth $231,000. ClearAlpha Technologies LP acquired a new stake in shares of Teekay Tankers during the third quarter worth $255,000. Finally, Entropy Technologies LP acquired a new stake in shares of Teekay Tankers during the third quarter worth $269,000. Institutional investors own 52.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TNK. Bank of America reaffirmed an “underperform” rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Teekay Tankers presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Trading Down 0.2 %

NYSE:TNK opened at $37.75 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 3.33 and a beta of -0.43. Teekay Tankers Ltd. has a 1-year low of $36.04 and a 1-year high of $74.20. The business’s fifty day moving average price is $41.42 and its 200 day moving average price is $47.12.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. 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 will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, March 3rd. Teekay Tankers’s payout ratio is 8.83%.

Teekay Tankers Company 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.