Martingale Asset Management L P Has $2.48 Million Stock Holdings in Teekay Tankers Ltd. $TNK

Martingale Asset Management L P increased its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,789 shares of the shipping company’s stock after purchasing an additional 248 shares during the period. Martingale Asset Management L P owned approximately 0.19% of Teekay Tankers worth $2,479,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after purchasing an additional 568 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Teekay Tankers by 19.7% during the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock worth $71,000 after buying an additional 304 shares in the last quarter. CWM LLC increased its holdings in shares of Teekay Tankers by 399.3% during the first quarter. CWM LLC now owns 3,480 shares of the shipping company’s stock worth $133,000 after buying an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $143,000. Finally, Cable Hill Partners LLC acquired a new stake in shares of Teekay Tankers during the first quarter worth approximately $184,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of Teekay Tankers stock opened at $48.1390 on Friday. The firm has a market cap of $1.65 billion, a P/E ratio of 5.98 and a beta of -0.09. The firm has a 50 day simple moving average of $44.49 and a 200 day simple moving average of $42.22. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $62.45.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). The company had revenue of $154.23 million during the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. During the same period in the prior year, the business earned $3.11 EPS. On average, sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Teekay Tankers’s dividend payout ratio (DPR) is currently 12.42%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. 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.