Mach 1 Financial Group LLC Decreases Position in Teekay Tankers Ltd. (NYSE:TNK)

Mach 1 Financial Group LLC reduced its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 32.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,403 shares of the shipping company’s stock after selling 3,998 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Teekay Tankers were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bleakley Financial Group LLC boosted its holdings in shares of Teekay Tankers by 3.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,396 shares of the shipping company’s stock worth $370,000 after purchasing an additional 255 shares during the period. Simplicity Solutions LLC lifted its holdings in shares of Teekay Tankers by 3.6% during the fourth quarter. Simplicity Solutions LLC now owns 7,396 shares of the shipping company’s stock valued at $370,000 after purchasing an additional 255 shares during the last quarter. CWM LLC boosted its position in shares of Teekay Tankers by 10,816.7% in the 3rd quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after purchasing an additional 649 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Teekay Tankers by 7.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,110 shares of the shipping company’s stock valued at $555,000 after buying an additional 802 shares in the last quarter. Finally, BluePath Capital Management LLC purchased a new position in Teekay Tankers during the third quarter valued at $35,000. 52.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Teekay Tankers Stock Performance

TNK stock traded down $0.63 on Wednesday, hitting $57.64. The company had a trading volume of 23,257 shares, compared to its average volume of 423,424. The company has a current ratio of 4.40, a quick ratio of 4.02 and a debt-to-equity ratio of 0.08. Teekay Tankers Ltd. has a 12-month low of $35.00 and a 12-month high of $64.42. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 3.92, a P/E/G ratio of 1.37 and a beta of -0.28. The stock’s 50-day simple moving average is $56.49 and its 200 day simple moving average is $53.95.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results 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). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The firm had revenue of $194.46 million for the quarter, compared to the consensus estimate of $219.93 million. As a group, equities research analysts expect that Teekay Tankers Ltd. will post 14.25 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a $0.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.00 annualized dividend and a yield of 1.73%. Teekay Tankers’s payout ratio is 6.73%.

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.