Teekay Tankers Ltd. (NYSE:TNK) Shares Bought by Kendall Capital Management

Kendall Capital Management boosted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,965 shares of the shipping company’s stock after buying an additional 580 shares during the period. Kendall Capital Management owned 0.05% of Teekay Tankers worth $715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $41,000. Millburn Ridgefield Corp acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at $132,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after purchasing an additional 286 shares during the last quarter. US Bancorp DE acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at $231,000. Finally, Ieq Capital LLC acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $247,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Trading Down 0.1 %

TNK stock opened at $38.29 on Monday. The company has a market capitalization of $1.31 billion, a PE ratio of 3.38 and a beta of -0.44. Teekay Tankers Ltd. has a 12-month low of $36.04 and a 12-month high of $74.20. The business’s fifty day moving average price is $41.29 and its 200 day moving average price is $46.41.

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

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.61%. Teekay Tankers’s dividend payout ratio (DPR) is 8.83%.

Wall Street Analyst Weigh In

TNK has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, February 20th. Bank of America reaffirmed an “underperform” rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers 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.