New Age Alpha Advisors LLC Invests $132,000 in Teekay Tankers Ltd. (NYSE:TNK)

New Age Alpha Advisors LLC acquired a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,328 shares of the shipping company’s stock, valued at approximately $132,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Teekay Tankers in the 4th quarter valued at approximately $41,000. Millburn Ridgefield Corp acquired a new stake in Teekay Tankers in the third quarter valued at approximately $132,000. Steward Partners Investment Advisory LLC grew its stake in shares of Teekay Tankers by 7.3% during the fourth 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 last quarter. Ieq Capital LLC acquired a new position in shares of Teekay Tankers during the fourth quarter worth $247,000. Finally, Magnetar Financial LLC lifted its stake in shares of Teekay Tankers by 30.3% in the 4th quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company’s stock valued at $248,000 after acquiring an additional 1,445 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

TNK stock opened at $38.19 on Thursday. The company has a market capitalization of $1.31 billion, a P/E ratio of 3.37 and a beta of -0.16. The company has a fifty day moving average price of $39.68 and a 200-day moving average price of $44.36. Teekay Tankers Ltd. has a 52-week low of $35.23 and a 52-week high of $74.20.

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

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s payout ratio is presently 8.83%.

Analyst Upgrades and Downgrades

Separately, 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. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.