Sequoia Financial Advisors LLC Has $322,000 Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Sequoia Financial Advisors LLC lifted its stake in Teekay Tankers Ltd. (NYSE:TNK) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,529 shares of the shipping company’s stock after acquiring an additional 277 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Teekay Tankers were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. U S Global Investors Inc. increased its position in Teekay Tankers by 11.0% during the third quarter. U S Global Investors Inc. now owns 4,897 shares of the shipping company’s stock worth $285,000 after buying an additional 486 shares during the last quarter. Shariaportfolio Inc. bought a new stake in shares of Teekay Tankers in the 3rd quarter worth about $3,498,000. Exchange Traded Concepts LLC grew its holdings in shares of Teekay Tankers by 11.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,464 shares of the shipping company’s stock worth $318,000 after purchasing an additional 581 shares during the last quarter. Unison Advisors LLC bought a new stake in shares of Teekay Tankers in the 3rd quarter worth about $740,000. Finally, CWM LLC grew its holdings in shares of Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after purchasing an additional 482 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Trading Down 1.1 %

Teekay Tankers stock opened at $49.45 on Tuesday. Teekay Tankers Ltd. has a 1 year low of $46.25 and a 1 year high of $74.20. The company has a market cap of $1.69 billion, a PE ratio of 3.50, a PEG ratio of 1.32 and a beta of -0.33. The company’s 50-day moving average is $55.96 and its two-hundred day moving average is $61.48.

Teekay Tankers (NYSE:TNK) last released 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 net margin of 36.04% and a return on equity of 26.34%. The business had revenue of $296.60 million for the quarter, compared to analyst estimates of $192.19 million. During the same quarter in the previous year, the company posted $4.38 earnings per share. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. Research analysts forecast that Teekay Tankers Ltd. will post 12.65 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.02%. Teekay Tankers’s payout ratio is presently 7.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 target price on shares of Teekay Tankers in a report on Thursday, August 1st. Evercore ISI increased their price objective on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com initiated coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They set a “hold” rating on the stock. Bank of America decreased their price objective on shares of Teekay Tankers from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Fearnley Fonds raised shares of Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $76.67.

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.