Linden Thomas Advisory Services LLC Buys 1,849 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Linden Thomas Advisory Services LLC raised its stake in Teekay Tankers Ltd. (NYSE:TNK) by 26.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,843 shares of the shipping company’s stock after acquiring an additional 1,849 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Teekay Tankers were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TNK. CWM LLC grew its position in shares of Teekay Tankers by 10,816.7% in the 3rd quarter. CWM LLC now owns 655 shares of the shipping company’s stock valued at $27,000 after buying an additional 649 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $519,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $97,000. Bailard Inc. lifted its stake in shares of Teekay Tankers by 28.6% in the 3rd quarter. Bailard Inc. now owns 7,714 shares of the shipping company’s stock valued at $321,000 after purchasing an additional 1,714 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $35,000. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

TNK has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 22nd. Evercore ISI dropped their price objective on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. StockNews.com raised Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Bank of America raised Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $72.00 in a research note on Friday, January 19th.

Teekay Tankers Stock Up 2.7 %

TNK stock opened at $58.13 on Friday. The company has a market cap of $1.98 billion, a P/E ratio of 3.91, a price-to-earnings-growth ratio of 1.32 and a beta of -0.28. Teekay Tankers Ltd. has a fifty-two week low of $35.00 and a fifty-two week high of $64.42. The stock’s 50 day simple moving average is $56.48 and its 200 day simple moving average is $53.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.81). The company had revenue of $194.46 million during the quarter, compared to analysts’ expectations of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. On average, research analysts expect that Teekay Tankers Ltd. will post 14.28 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, March 1st. Teekay Tankers’s dividend payout ratio (DPR) is presently 6.73%.

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.