Dimensional Fund Advisors LP Grows Position in Teekay Tankers Ltd. (NYSE:TNK)

Dimensional Fund Advisors LP grew its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,059,543 shares of the shipping company’s stock after purchasing an additional 13,330 shares during the period. Dimensional Fund Advisors LP owned approximately 6.01% of Teekay Tankers worth $141,723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TNK. BOKF NA lifted its stake in shares of Teekay Tankers by 54.2% in the second quarter. BOKF NA now owns 6,857 shares of the shipping company’s stock valued at $472,000 after purchasing an additional 2,411 shares during the period. American Century Companies Inc. grew its holdings in shares of Teekay Tankers by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock worth $49,495,000 after acquiring an additional 93,788 shares during the period. Choreo LLC purchased a new position in Teekay Tankers in the 2nd quarter valued at approximately $462,000. Ashton Thomas Private Wealth LLC purchased a new position in Teekay Tankers in the 2nd quarter valued at approximately $237,000. Finally, Acadian Asset Management LLC raised its holdings in Teekay Tankers by 41.3% during the second quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock worth $64,361,000 after purchasing an additional 273,530 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TNK shares. Bank of America dropped their price target on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Evercore ISI lifted their target price on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded 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 research note on Thursday, August 1st.

Teekay Tankers Trading Down 2.3 %

Shares of TNK stock opened at $55.77 on Friday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 1.41 and a beta of -0.32. The firm has a 50-day moving average price of $57.84 and a 200 day moving average price of $61.47. Teekay Tankers Ltd. has a twelve month low of $37.20 and a twelve month high of $74.20.

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

Teekay Tankers Announces Dividend

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