Assetmark Inc. Has $100,000 Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Assetmark Inc. trimmed its position in Teekay Tankers Ltd. (NYSE:TNK) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,523 shares of the shipping company’s stock after selling 296 shares during the quarter. Assetmark Inc.’s holdings in Teekay Tankers were worth $100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TNK. Entropy Technologies LP acquired a new position in shares of Teekay Tankers in the third quarter worth about $269,000. Victory Capital Management Inc. boosted its holdings in shares of Teekay Tankers by 261.7% in the third quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company’s stock worth $2,655,000 after buying an additional 32,983 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Teekay Tankers during the third quarter worth approximately $503,000. Segall Bryant & Hamill LLC boosted its holdings in shares of Teekay Tankers by 3.5% during the third quarter. Segall Bryant & Hamill LLC now owns 78,644 shares of the shipping company’s stock worth $4,581,000 after purchasing an additional 2,639 shares during the period. Finally, Foundry Partners LLC boosted its holdings in shares of Teekay Tankers by 89.3% during the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock worth $6,156,000 after purchasing an additional 49,853 shares during the period. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Stock Performance

TNK stock opened at $37.89 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of 3.35 and a beta of -0.44. The firm has a 50 day simple moving average of $40.97 and a 200 day simple moving average of $45.88. Teekay Tankers Ltd. has a 52 week low of $35.23 and a 52 week high of $74.20.

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

Teekay Tankers Announces Dividend

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

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.