MQS Management LLC Makes New $476,000 Investment in Teekay Tankers Ltd. $TNK

MQS Management LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, Holdings Channel.com reports. The fund bought 8,902 shares of the shipping company’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Teekay Tankers by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,799,113 shares of the shipping company’s stock worth $90,947,000 after purchasing an additional 35,131 shares during the period. American Century Companies Inc. increased its position in Teekay Tankers by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 1,077,363 shares of the shipping company’s stock worth $54,461,000 after purchasing an additional 67,186 shares during the period. Ameriprise Financial Inc. increased its position in Teekay Tankers by 24.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock worth $28,903,000 after purchasing an additional 136,990 shares during the period. Summit Street Capital Management LLC increased its position in Teekay Tankers by 14.4% during the 3rd quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock worth $25,360,000 after purchasing an additional 63,125 shares during the period. Finally, Millennium Management LLC increased its position in Teekay Tankers by 24.9% during the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after purchasing an additional 50,815 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore reiterated an “outperform” rating and set a $86.00 target price on shares of Teekay Tankers in a research report on Friday, May 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Friday, March 27th. Wall Street Zen upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. DNB Markets cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Dnb Carnegie cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.00.

Teekay Tankers Stock Down 0.7%

Shares of Teekay Tankers stock opened at $77.13 on Friday. Teekay Tankers Ltd. has a fifty-two week low of $41.05 and a fifty-two week high of $83.99. The firm has a market cap of $2.66 billion, a PE ratio of 6.27 and a beta of -0.21. The business’s fifty day moving average is $74.65 and its two-hundred day moving average is $66.47.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share for the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. Equities research analysts anticipate that Teekay Tankers Ltd. will post 13.75 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, May 26th. Teekay Tankers’s dividend payout ratio is currently 8.13%.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.