New York State Common Retirement Fund Acquires 2,900 Shares of Teekay Tankers Ltd. (NYSE:TNK)

New York State Common Retirement Fund grew its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,202 shares of the shipping company’s stock after acquiring an additional 2,900 shares during the period. New York State Common Retirement Fund owned 0.06% of Teekay Tankers worth $844,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Teekay Tankers in the 4th quarter valued at $41,000. Millburn Ridgefield Corp bought a new position in Teekay Tankers during the third quarter valued at about $132,000. US Bancorp DE acquired a new stake in shares of Teekay Tankers in the third quarter worth about $231,000. ClearAlpha Technologies LP bought a new stake in shares of Teekay Tankers during the 3rd quarter worth about $255,000. Finally, Essex Financial Services Inc. bought a new stake in shares of Teekay Tankers during the 4th quarter worth about $255,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $37.64 on Tuesday. Teekay Tankers Ltd. has a 52 week low of $36.04 and a 52 week high of $74.20. The firm has a market capitalization of $1.29 billion, a PE ratio of 3.33 and a beta of -0.43. The business’s 50-day simple moving average is $41.39 and its 200-day simple moving average is $46.93.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.66%. Teekay Tankers’s dividend payout ratio is 8.83%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TNK shares. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. Bank of America reissued an “underperform” rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers 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.