Victory Capital Management Inc. Has $867,000 Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Victory Capital Management Inc. cut its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 54.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,602 shares of the shipping company’s stock after selling 14,792 shares during the quarter. Victory Capital Management Inc.’s holdings in Teekay Tankers were worth $867,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TNK. Tucker Asset Management LLC acquired a new stake in Teekay Tankers during the 4th quarter worth about $38,000. Fifth Third Bancorp boosted its position in Teekay Tankers by 266.7% during the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after acquiring an additional 456 shares during the period. EntryPoint Capital LLC raised its stake in shares of Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock worth $51,000 after purchasing an additional 378 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Teekay Tankers by 14.7% during the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after purchasing an additional 172 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Teekay Tankers by 82.6% during the 4th quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock valued at $138,000 after buying an additional 1,248 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

TNK opened at $55.77 on Friday. The business has a 50 day moving average price of $57.98 and a 200 day moving average price of $61.40. Teekay Tankers Ltd. has a twelve month low of $37.20 and a twelve month high of $74.20. The firm has a market cap of $1.91 billion, a P/E ratio of 3.95, a price-to-earnings-growth ratio of 1.41 and a beta of -0.32.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.13). Teekay Tankers had a return on equity of 26.34% and a net margin of 36.04%. The company had revenue of $296.60 million during the quarter, compared to analyst estimates of $192.19 million. During the same quarter last year, the firm posted $4.38 earnings per share. The firm’s revenue for the quarter was down 20.0% compared to the same quarter last year. As a group, analysts anticipate that Teekay Tankers Ltd. will post 13.33 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 1.79%. Teekay Tankers’s dividend payout ratio (DPR) is currently 7.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Bank of America reduced their price target on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Jefferies Financial Group reiterated a “buy” rating and set a $76.00 price target on shares of Teekay Tankers in a report on Thursday, August 1st. Finally, Evercore ISI lifted their price target on Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd.

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.