Steward Partners Investment Advisory LLC Acquires 286 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Steward Partners Investment Advisory LLC grew its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,219 shares of the shipping company’s stock after acquiring an additional 286 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Teekay Tankers were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Teekay Tankers in the 4th quarter worth $629,000. Denali Advisors LLC bought a new position in Teekay Tankers in the 4th quarter worth $2,204,000. Y Intercept Hong Kong Ltd boosted its holdings in Teekay Tankers by 155.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 14,992 shares of the shipping company’s stock worth $597,000 after buying an additional 9,127 shares during the period. Ieq Capital LLC bought a new position in shares of Teekay Tankers during the 4th quarter valued at about $247,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Teekay Tankers by 15.8% during the 4th quarter. New York State Common Retirement Fund now owns 21,202 shares of the shipping company’s stock valued at $844,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Teekay Tankers has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Stock Up 3.1 %

Shares of TNK opened at $37.89 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 3.35 and a beta of -0.44. Teekay Tankers Ltd. has a twelve month low of $35.23 and a twelve month high of $74.20. The company has a 50 day moving average of $40.97 and a two-hundred day moving average of $45.81.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. On average, sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s dividend payout ratio is presently 8.83%.

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.