Systematic Financial Management LP Grows Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Systematic Financial Management LP lifted its position in Teekay Tankers Ltd. (NYSE:TNK) by 16.4% in the 4th quarter, HoldingsChannel reports. The firm owned 210,375 shares of the shipping company’s stock after purchasing an additional 29,595 shares during the quarter. Systematic Financial Management LP’s holdings in Teekay Tankers were worth $8,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in shares of 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 purchasing an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Teekay Tankers by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company’s stock valued at $543,000 after acquiring an additional 494 shares in the last quarter. Kendall Capital Management raised 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 valued at $715,000 after acquiring an additional 580 shares in the last quarter. Sterling Capital Management LLC raised its position in Teekay Tankers by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company’s stock valued at $420,000 after acquiring an additional 686 shares in the last quarter. Finally, Ellevest Inc. raised its position in Teekay Tankers by 14.4% during the fourth quarter. Ellevest Inc. now owns 5,704 shares of the shipping company’s stock valued at $227,000 after acquiring an additional 720 shares in the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Trading Up 2.1%

Shares of TNK stock opened at $46.84 on Friday. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.20. The stock has a 50 day moving average of $40.11 and a 200 day moving average of $40.87. The stock has a market cap of $1.61 billion, a P/E ratio of 4.14 and a beta of -0.10.

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

Teekay Tankers Increases Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a $1.00 dividend. This is a positive change from Teekay Tankers’s previous — dividend of $0.25. This represents a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 19th. Teekay Tankers’s dividend payout ratio (DPR) is presently 10.72%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TNK. Evercore ISI reduced their price target on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, May 8th. One investment 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 data from MarketBeat.com, Teekay Tankers has an average rating of “Moderate Buy” and a consensus price target of $50.67.

About Teekay Tankers

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.