MQS Management LLC Purchases Shares of 8,902 Teekay Tankers Ltd. $TNK

MQS Management LLC purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,902 shares of the shipping company’s stock, valued at approximately $476,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ruffer LLP acquired a new stake in Teekay Tankers in the fourth quarter valued at $3,738,000. American Century Companies Inc. raised its stake in Teekay Tankers by 6.7% in the third quarter. American Century Companies Inc. now owns 1,077,363 shares of the shipping company’s stock valued at $54,461,000 after buying an additional 67,186 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Teekay Tankers in the fourth quarter valued at $708,000. Royce & Associates LP raised its stake in Teekay Tankers by 7.5% in the third quarter. Royce & Associates LP now owns 211,590 shares of the shipping company’s stock valued at $10,696,000 after buying an additional 14,707 shares in the last quarter. Finally, Greenland Capital Management LP acquired a new stake in shares of Teekay Tankers in the 3rd quarter valued at about $1,012,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TNK has been the subject of a number of research analyst reports. Wall Street Zen raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. DNB Markets cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Zacks Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Bank of America upped their target price on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday. Finally, Evercore reissued an “outperform” rating and issued a $86.00 target price on shares of Teekay Tankers in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Teekay Tankers Trading Down 0.7%

Shares of TNK stock opened at $77.13 on Friday. The business’s 50 day moving average is $74.65 and its two-hundred day moving average is $66.47. Teekay Tankers Ltd. has a twelve month low of $41.05 and a twelve month high of $83.99. The company has a market capitalization of $2.66 billion, a P/E ratio of 6.27 and a beta of -0.21.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share for the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. As a group, equities analysts predict that Teekay Tankers Ltd. will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, May 26th. Teekay Tankers’s dividend payout ratio (DPR) is 8.13%.

Teekay Tankers Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.