Teekay Tankers Ltd. $TNK Shares Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 42.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,332 shares of the shipping company’s stock after acquiring an additional 8,170 shares during the quarter. Fox Run Management L.L.C. owned about 0.08% of Teekay Tankers worth $1,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TNK. Ameriprise Financial Inc. increased its stake in shares of Teekay Tankers by 24.6% during the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock valued at $28,903,000 after acquiring an additional 136,990 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Teekay Tankers by 182.3% during the third quarter. Qube Research & Technologies Ltd now owns 120,122 shares of the shipping company’s stock valued at $6,072,000 after acquiring an additional 77,574 shares during the period. Ruffer LLP bought a new stake in Teekay Tankers during the fourth quarter worth approximately $3,738,000. Shariaportfolio Inc. bought a new stake in Teekay Tankers during the third quarter worth approximately $3,440,000. Finally, American Century Companies Inc. boosted its holdings in Teekay Tankers by 6.7% during the third quarter. American Century Companies Inc. now owns 1,077,363 shares of the shipping company’s stock worth $54,461,000 after buying an additional 67,186 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. DNB Markets cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Evercore restated an “outperform” rating and set a $86.00 target price on shares of Teekay Tankers in a report on Friday, May 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a report on Friday, March 27th. Dnb Carnegie cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Teekay Tankers presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insider Activity

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of Teekay Tankers stock in a transaction on Monday, June 8th. The shares were sold at an average price of $71.53, for a total transaction of $502,927.43. Following the completion of the sale, the director owned 7,445 shares of the company’s stock, valued at $532,540.85. This trade represents a 48.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Teekay Tankers Stock Down 0.7%

Shares of NYSE:TNK opened at $71.71 on Tuesday. The firm has a fifty day moving average of $75.70 and a two-hundred day moving average of $67.35. The firm has a market capitalization of $2.48 billion, a P/E ratio of 5.83 and a beta of -0.25. Teekay Tankers Ltd. has a 12-month low of $41.05 and a 12-month high of $83.99.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. Equities research analysts expect 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 was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Teekay Tankers’s dividend payout ratio (DPR) is 8.13%.

Teekay Tankers Company 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.