Strategic Global Advisors LLC Acquires New Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Strategic Global Advisors LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, HoldingsChannel reports. The fund bought 49,137 shares of the shipping company’s stock, valued at approximately $1,955,000.

Several other hedge funds also recently bought and sold shares of TNK. Systematic Financial Management LP lifted its holdings in shares of Teekay Tankers by 16.4% in the 4th quarter. Systematic Financial Management LP now owns 210,375 shares of the shipping company’s stock worth $8,371,000 after acquiring an additional 29,595 shares during the last quarter. ProShare Advisors LLC increased its holdings in Teekay Tankers by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 6,757 shares of the shipping company’s stock valued at $269,000 after purchasing an additional 2,222 shares during the last quarter. Nomura Holdings Inc. raised its position in Teekay Tankers by 87.8% in the fourth quarter. Nomura Holdings Inc. now owns 26,506 shares of the shipping company’s stock valued at $1,055,000 after purchasing an additional 12,393 shares during the period. Numerai GP LLC acquired a new position in Teekay Tankers during the fourth quarter worth $2,246,000. Finally, Maven Securities LTD acquired a new position in Teekay Tankers during the fourth quarter worth $231,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Up 2.1%

Shares of TNK opened at $46.84 on Friday. The company has a market cap of $1.61 billion, a P/E ratio of 4.14 and a beta of -0.10. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20. The firm’s 50 day moving average price is $40.11 and its 200 day moving average price is $40.87.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.32). The business had revenue of $115.64 million during the quarter, compared to analyst estimates of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business’s revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.23 EPS. Research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The business also recently announced a — dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $1.00 per share. This represents a yield of 2.3%. This is a boost from Teekay Tankers’s previous — dividend of $0.25. The ex-dividend date is Monday, May 19th. Teekay Tankers’s payout ratio is presently 10.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TNK. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, May 8th. Evercore ISI lowered their target price on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

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.