Hartree Partners LP Invests $267,000 in Teekay Tankers Ltd. (NYSE:TNK)

Hartree Partners LP purchased a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,700 shares of the shipping company’s stock, valued at approximately $267,000.

Other hedge funds also recently modified their holdings of the company. Royce & Associates LP bought a new stake in shares of Teekay Tankers in the 4th quarter worth approximately $8,980,000. Empowered Funds LLC purchased a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $7,248,000. FMR LLC raised its position in shares of Teekay Tankers by 9.2% in the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock worth $86,249,000 after purchasing an additional 124,659 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after purchasing an additional 80,217 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Teekay Tankers by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock worth $17,867,000 after acquiring an additional 72,798 shares during the period. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Teekay Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Trading Up 1.3 %

NYSE:TNK opened at $38.66 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of 3.42 and a beta of -0.44. The firm has a fifty day simple moving average of $39.90 and a 200-day simple moving average of $44.71. Teekay Tankers Ltd. has a 12 month low of $35.23 and a 12 month high of $74.20.

Teekay Tankers (NYSE:TNK) last posted its 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. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The company had revenue of $163.42 million during the quarter, compared to analysts’ expectations of $158.26 million. Equities analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. Teekay Tankers’s payout ratio is currently 8.83%.

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.