Teekay Tankers Ltd. (TNK) Shares Bought by State Street Corp
State Street Corp lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 9.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,952,507 shares of the shipping company’s stock after acquiring an additional 170,377 shares during the quarter. State Street Corp owned 1.15% of Teekay Tankers worth $3,671,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Voya Investment Management LLC increased its position in shares of Teekay Tankers by 26.3% during the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after acquiring an additional 13,167 shares during the last quarter. Nationwide Fund Advisors increased its position in Teekay Tankers by 10.4% in the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock worth $150,000 after buying an additional 7,500 shares during the last quarter. Loews Corp increased its position in Teekay Tankers by 17.6% in the second quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock worth $165,000 after buying an additional 13,200 shares during the last quarter. Rhumbline Advisers increased its position in Teekay Tankers by 7.2% in the second quarter. Rhumbline Advisers now owns 140,315 shares of the shipping company’s stock worth $264,000 after buying an additional 9,437 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Teekay Tankers by 14.5% in the second quarter. Parametric Portfolio Associates LLC now owns 167,966 shares of the shipping company’s stock worth $316,000 after buying an additional 21,325 shares during the last quarter. 35.91% of the stock is owned by institutional investors.
TNK has been the subject of a number of recent research reports. Zacks Investment Research downgraded Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Bank of America decreased their target price on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research report on Friday, November 10th. Finally, BidaskClub downgraded Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 13th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has an average rating of “Sell” and a consensus price target of $1.60.
Teekay Tankers Ltd. (NYSE:TNK) remained flat at $$1.48 during trading hours on Friday. The company’s stock had a trading volume of 1,292,336 shares, compared to its average volume of 1,788,614. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.80. Teekay Tankers Ltd. has a 52-week low of $1.37 and a 52-week high of $2.78.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The company had revenue of $91.20 million during the quarter, compared to analysts’ expectations of $68.67 million. Teekay Tankers had a negative return on equity of 0.99% and a negative net margin of 11.43%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. equities analysts predict that Teekay Tankers Ltd. will post -0.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Monday, November 20th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 8.11%. The ex-dividend date was Friday, November 17th. Teekay Tankers’s dividend payout ratio (DPR) is presently -42.86%.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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