SG Americas Securities LLC Has $15.24 Million Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

SG Americas Securities LLC increased its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 261,589 shares of the shipping company’s stock after purchasing an additional 20,790 shares during the period. SG Americas Securities LLC owned approximately 0.76% of Teekay Tankers worth $15,238,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TNK. Tucker Asset Management LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $38,000. Fifth Third Bancorp lifted its position in shares of 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 purchasing an additional 456 shares during the last quarter. Quarry LP acquired a new position in shares of Teekay Tankers during the 2nd quarter worth about $43,000. EntryPoint Capital LLC raised its holdings in Teekay Tankers by 76.5% in the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 378 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Teekay Tankers by 14.7% in the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Evercore ISI upped 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. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Teekay Tankers in a report on Thursday, August 1st. Finally, Bank of America cut 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $76.67.

Teekay Tankers Price Performance

Shares of TNK traded down $0.58 during mid-day trading on Friday, reaching $61.12. The company had a trading volume of 419,286 shares, compared to its average volume of 293,440. Teekay Tankers Ltd. has a twelve month low of $37.20 and a twelve month high of $74.20. The company’s 50-day moving average is $56.83 and its 200-day moving average is $61.68. The company has a market capitalization of $2.09 billion, a P/E ratio of 4.32, a P/E/G ratio of 1.49 and a beta of -0.33.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $4.38 earnings per share. The company’s quarterly revenue was down 20.0% on a year-over-year basis. As a group, equities analysts expect that Teekay Tankers Ltd. will post 13.33 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Teekay Tankers’s dividend payout ratio 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.