Credit Industriel ET Commercial Buys Shares of 29,583 Teekay Tankers Ltd. (NYSE:TNK)

Credit Industriel ET Commercial bought a new position in Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,583 shares of the shipping company’s stock, valued at approximately $1,177,000. Credit Industriel ET Commercial owned about 0.09% of Teekay Tankers at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its position in Teekay Tankers by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after acquiring an additional 286 shares in the last quarter. Kendall Capital Management increased its position in Teekay Tankers by 3.3% during the fourth quarter. Kendall Capital Management now owns 17,965 shares of the shipping company’s stock worth $715,000 after buying an additional 580 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Teekay Tankers by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company’s stock worth $420,000 after acquiring an additional 686 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Teekay Tankers by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 14,901 shares of the shipping company’s stock valued at $593,000 after acquiring an additional 834 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Teekay Tankers in the 4th quarter worth approximately $41,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of TNK opened at $39.42 on Thursday. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20. The firm has a market capitalization of $1.35 billion, a P/E ratio of 3.48 and a beta of -0.16. The company has a 50-day simple moving average of $38.25 and a 200-day simple moving average of $42.15.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data 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. The company 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%. As a group, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s payout ratio is 8.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TNK shares. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, February 20th. Evercore ISI decreased their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

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.