Sanctuary Advisors LLC Makes New $1.78 Million Investment in Teekay Tankers Ltd. (NYSE:TNK)

Sanctuary Advisors LLC purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,801 shares of the shipping company’s stock, valued at approximately $1,775,000. Sanctuary Advisors LLC owned approximately 0.08% of Teekay Tankers as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TNK. Quarry LP purchased a new stake in Teekay Tankers during the second quarter valued at approximately $43,000. AQR Capital Management LLC increased its position in shares of Teekay Tankers by 6.5% during the second quarter. AQR Capital Management LLC now owns 45,735 shares of the shipping company’s stock worth $3,147,000 after purchasing an additional 2,781 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of Teekay Tankers during the 2nd quarter valued at $3,832,000. Sei Investments Co. boosted its position in shares of Teekay Tankers by 9.2% in the 2nd quarter. Sei Investments Co. now owns 79,243 shares of the shipping company’s stock worth $5,453,000 after purchasing an additional 6,652 shares in the last quarter. Finally, Kendall Capital Management grew its stake in Teekay Tankers by 31.5% during the 2nd quarter. Kendall Capital Management now owns 13,310 shares of the shipping company’s stock worth $916,000 after buying an additional 3,190 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI raised their price target on Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America lowered their target price on shares of Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Fearnley Fonds upgraded shares of Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $76.00 price objective on shares of Teekay Tankers in a report on Thursday, August 1st. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $76.67.

Teekay Tankers Trading Down 2.1 %

TNK opened at $60.79 on Wednesday. Teekay Tankers Ltd. has a 12-month low of $39.51 and a 12-month high of $74.20. The firm has a 50 day moving average of $56.73 and a two-hundred day moving average of $61.86. The firm has a market capitalization of $2.08 billion, a PE ratio of 4.30, a P/E/G ratio of 1.53 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 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 business had revenue of $296.60 million for the quarter, compared to analysts’ expectations of $192.19 million. During the same period last year, the business earned $4.38 EPS. The company’s revenue for the quarter was down 20.0% on a year-over-year basis. As a group, analysts predict that Teekay Tankers Ltd. will post 13.33 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. Teekay Tankers’s dividend payout ratio (DPR) is presently 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.