Virtu Financial LLC Takes $451,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

Virtu Financial LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 9,028 shares of the shipping company’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TNK. Principal Financial Group Inc. boosted its stake in shares of Teekay Tankers by 38.8% during the 4th quarter. Principal Financial Group Inc. now owns 828,888 shares of the shipping company’s stock valued at $41,420,000 after buying an additional 231,921 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Teekay Tankers by 94.3% during the 3rd quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company’s stock valued at $17,022,000 after buying an additional 198,613 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $6,243,000. Glenorchy Capital Ltd purchased a new position in shares of Teekay Tankers during the 4th quarter valued at approximately $2,787,000. Finally, Dimensional Fund Advisors LP lifted its stake in Teekay Tankers by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company’s stock worth $100,964,000 after purchasing an additional 54,886 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TNK has been the topic of several research analyst reports. StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Jefferies Financial Group raised their price objective on Teekay Tankers from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Evercore ISI reduced their price objective on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Finally, Bank of America raised their price objective on Teekay Tankers from $66.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, May 10th.

Teekay Tankers Stock Performance

TNK stock opened at $66.60 on Wednesday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 1.49 and a beta of -0.23. Teekay Tankers Ltd. has a 1 year low of $35.10 and a 1 year high of $74.20. The stock’s fifty day moving average is $65.08 and its two-hundred day moving average is $58.70.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, May 9th. The shipping company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.16. The company had revenue of $221.81 million for the quarter. Teekay Tankers had a return on equity of 30.73% and a net margin of 37.39%. As a group, analysts predict that Teekay Tankers Ltd. will post 14.67 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently declared a None dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were issued a dividend of $2.25 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 20th. Teekay Tankers’s dividend payout ratio (DPR) is 7.07%.

Teekay Tankers Company 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.