Y Intercept Hong Kong Ltd Boosts Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Y Intercept Hong Kong Ltd boosted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 155.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,992 shares of the shipping company’s stock after purchasing an additional 9,127 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Teekay Tankers were worth $597,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Foundry Partners LLC increased its holdings in shares of Teekay Tankers by 89.3% in the 3rd quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock valued at $6,156,000 after acquiring an additional 49,853 shares during the last quarter. Barclays PLC boosted its position in Teekay Tankers by 273.7% during the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company’s stock valued at $1,833,000 after purchasing an additional 23,051 shares during the period. Victory Capital Management Inc. boosted its position in Teekay Tankers by 261.7% during the 3rd quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company’s stock valued at $2,655,000 after purchasing an additional 32,983 shares during the period. Principal Financial Group Inc. boosted its position 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 period. Finally, ABC Arbitrage SA acquired a new position in Teekay Tankers during the 4th quarter valued at approximately $372,000. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Stock Performance

Shares of TNK stock opened at $37.75 on Friday. Teekay Tankers Ltd. has a 1 year low of $36.04 and a 1 year high of $74.20. The stock has a fifty day moving average of $41.42 and a two-hundred day moving average of $47.12. The firm has a market capitalization of $1.29 billion, a PE ratio of 3.33 and a beta of -0.43.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $158.26 million. Equities research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Analyst Ratings Changes

A number of research firms recently issued reports on TNK. Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, February 20th. Bank of America restated an “underperform” rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.