Diametric Capital LP Buys New Position in Teekay Tankers Ltd. (NYSE:TNK)

Diametric Capital LP bought a new position in Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,558 shares of the shipping company’s stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TNK. R Squared Ltd acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at $41,000. Meeder Asset Management Inc. acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $77,000. Millburn Ridgefield Corp acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at $132,000. New Age Alpha Advisors LLC purchased a new position in Teekay Tankers in the 4th quarter worth about $132,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after buying an additional 286 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Teekay Tankers presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Trading Up 0.5 %

Shares of Teekay Tankers stock opened at $38.46 on Wednesday. Teekay Tankers Ltd. has a 1 year low of $35.23 and a 1 year high of $74.20. The stock has a 50-day moving average price of $39.74 and a 200 day moving average price of $44.41. The company has a market cap of $1.32 billion, a P/E ratio of 3.40 and a beta of -0.44.

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

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.60%. Teekay Tankers’s payout ratio is 8.83%.

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.