Great Lakes Advisors LLC Boosts Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Great Lakes Advisors LLC boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 29.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,851 shares of the shipping company’s stock after buying an additional 15,477 shares during the period. Great Lakes Advisors LLC owned approximately 0.20% of Teekay Tankers worth $2,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after buying an additional 286 shares during the last quarter. Kendall Capital Management boosted its position in shares of Teekay Tankers by 3.3% during the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company’s stock worth $715,000 after purchasing an additional 580 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Teekay Tankers during the 4th quarter worth $41,000. Linden Thomas Advisory Services LLC boosted its position in shares of Teekay Tankers by 21.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock worth $493,000 after purchasing an additional 2,211 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Teekay Tankers by 41.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock worth $307,000 after purchasing an additional 2,248 shares in the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Teekay Tankers Stock Performance

Shares of NYSE TNK opened at $37.89 on Friday. The firm has a market capitalization of $1.30 billion, a P/E ratio of 3.35 and a beta of -0.44. Teekay Tankers Ltd. has a one year low of $35.23 and a one year high of $74.20. The company’s fifty day moving average is $40.97 and its two-hundred day moving average is $45.81.

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

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) 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.