Fox Run Management L.L.C. Acquires 8,170 Shares of Teekay Tankers Ltd. $TNK

Fox Run Management L.L.C. grew its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 42.6% during the fourth quarter, Holdings Channel reports. The firm owned 27,332 shares of the shipping company’s stock after purchasing an additional 8,170 shares during the period. Fox Run Management L.L.C.’s holdings in Teekay Tankers were worth $1,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TNK. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teekay Tankers during the 4th quarter valued at $28,000. Leonteq Securities AG bought a new position in Teekay Tankers in the 4th quarter worth $34,000. Sunbelt Securities Inc. bought a new position in Teekay Tankers in the 3rd quarter worth $63,000. PNC Financial Services Group Inc. raised its holdings in Teekay Tankers by 10.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock worth $98,000 after acquiring an additional 172 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in Teekay Tankers by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock worth $101,000 after acquiring an additional 1,123 shares during the period. Institutional investors own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a report on Friday, March 27th. Wall Street Zen upgraded shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Evercore reiterated an “outperform” rating and issued a $86.00 target price on shares of Teekay Tankers in a report on Friday, May 15th. Finally, DNB Markets downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Teekay Tankers presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insiders Place Their Bets

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $71.53, for a total value of $502,927.43. Following the transaction, the director directly owned 7,445 shares in the company, valued at $532,540.85. The trade was a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Teekay Tankers Price Performance

NYSE TNK opened at $71.71 on Tuesday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 5.83 and a beta of -0.25. The company’s fifty day moving average is $75.70 and its two-hundred day moving average is $67.35. Teekay Tankers Ltd. has a 52-week low of $41.05 and a 52-week high of $83.99.

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

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Teekay Tankers’s payout ratio is presently 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.