Commonwealth Equity Services LLC Buys 323 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Commonwealth Equity Services LLC lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,013 shares of the shipping company’s stock after acquiring an additional 323 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Teekay Tankers were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new stake in Teekay Tankers in the fourth quarter worth approximately $38,000. Fifth Third Bancorp increased its holdings in Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after purchasing an additional 456 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Teekay Tankers by 76.5% in the first 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. increased its holdings in Teekay Tankers by 14.7% in the second 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. increased its holdings in Teekay Tankers by 82.6% in the fourth quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock worth $138,000 after purchasing an additional 1,248 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TNK has been the subject of a number of research analyst reports. StockNews.com downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 target price on shares of Teekay Tankers in a report on Thursday, August 1st. Bank of America decreased their price objective on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Evercore ISI boosted their price objective 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 Stock Up 2.4 %

NYSE TNK opened at $57.44 on Wednesday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 4.06, a P/E/G ratio of 1.41 and a beta of -0.32. Teekay Tankers Ltd. has a 52 week low of $37.20 and a 52 week high of $74.20. The business has a 50 day moving average price of $57.53 and a 200-day moving average price of $61.56.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.11 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.13). The firm had revenue of $296.60 million for the quarter, compared to the consensus estimate of $192.19 million. Teekay Tankers had a net margin of 36.04% and a return on equity of 26.34%. The company’s revenue was down 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.38 EPS. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 13.33 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. Teekay Tankers’s payout ratio is 7.07%.

About Teekay Tankers

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.