Denali Advisors LLC Acquires Shares of 55,400 Teekay Tankers Ltd. (NYSE:TNK)

Denali Advisors LLC bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 55,400 shares of the shipping company’s stock, valued at approximately $2,204,000. Denali Advisors LLC owned approximately 0.16% of Teekay Tankers as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TNK. FMR LLC boosted its holdings in shares of Teekay Tankers by 9.2% during the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after acquiring an additional 124,659 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Teekay Tankers by 9.7% during the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after purchasing an additional 80,217 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Teekay Tankers by 0.8% during the third quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company’s stock valued at $18,542,000 after purchasing an additional 2,403 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Teekay Tankers by 31.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock worth $17,867,000 after purchasing an additional 72,798 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $7,248,000. Institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TNK. Bank of America reiterated 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 reissued a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $39.77 on Thursday. The firm has a 50 day moving average price of $41.40 and a two-hundred day moving average price of $47.36. Teekay Tankers Ltd. has a 52-week low of $36.04 and a 52-week high of $74.20. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 3.51 and a beta of -0.43.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. As a group, equities research analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers’s dividend 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.