Farther Finance Advisors LLC Has $202,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

Farther Finance Advisors LLC reduced its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,088 shares of the shipping company’s stock after selling 1,026 shares during the period. Farther Finance Advisors LLC’s holdings in Teekay Tankers were worth $202,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TNK. Empowered Funds LLC acquired a new position in Teekay Tankers in the fourth quarter valued at approximately $7,248,000. FMR LLC lifted its holdings in Teekay Tankers by 9.2% in the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after buying an additional 124,659 shares during the period. Principal Financial Group Inc. lifted its holdings in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after buying an additional 80,217 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Teekay Tankers by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock worth $17,867,000 after purchasing an additional 72,798 shares during the period. Finally, Denali Advisors LLC acquired a new stake in Teekay Tankers in the fourth quarter worth $2,204,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Stock Up 2.3 %

Shares of NYSE:TNK opened at $39.52 on Thursday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 3.49 and a beta of -0.44. Teekay Tankers Ltd. has a 12 month low of $35.23 and a 12 month high of $74.20. The company’s fifty day simple moving average is $40.82 and its 200 day simple moving average is $45.46.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. Research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is currently 8.83%.

Teekay Tankers Company 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.