Linden Thomas Advisory Services LLC Boosts Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Linden Thomas Advisory Services LLC boosted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 26.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,843 shares of the shipping company’s stock after purchasing an additional 1,849 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Teekay Tankers were worth $442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TNK. Principal Financial Group Inc. increased its holdings in Teekay Tankers by 52.9% during the 3rd quarter. Principal Financial Group Inc. now owns 596,967 shares of the shipping company’s stock worth $24,852,000 after purchasing an additional 206,561 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Teekay Tankers by 94.3% during the 3rd quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company’s stock worth $17,022,000 after purchasing an additional 198,613 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $6,243,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Teekay Tankers by 180.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 182,816 shares of the shipping company’s stock valued at $7,611,000 after acquiring an additional 117,716 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of Teekay Tankers by 409.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 74,308 shares of the shipping company’s stock valued at $3,093,000 after acquiring an additional 59,728 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TNK. StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price target on shares of Teekay Tankers in a report on Thursday, February 22nd. Evercore ISI lowered their price objective on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Finally, Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $72.00 in a research note on Friday, January 19th.

Teekay Tankers Trading Up 2.7 %

Shares of TNK stock opened at $58.13 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. The firm has a market capitalization of $1.98 billion, a PE ratio of 3.91, a price-to-earnings-growth ratio of 1.32 and a beta of -0.28. The stock has a fifty day moving average of $56.48 and a two-hundred day moving average of $53.52. Teekay Tankers Ltd. has a 1 year low of $35.00 and a 1 year high of $64.42.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). The firm had revenue of $194.46 million during the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. As a group, research analysts expect that Teekay Tankers Ltd. will post 14.28 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Teekay Tankers’s dividend payout ratio (DPR) is 6.73%.

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.