Vident Advisory LLC Grows Position in Teekay Tankers Ltd. (NYSE:TNK)

Vident Advisory LLC lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 39.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,890 shares of the shipping company’s stock after purchasing an additional 3,668 shares during the quarter. Vident Advisory LLC’s holdings in Teekay Tankers were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Teekay Tankers during the 4th quarter worth $41,000. Meeder Asset Management Inc. purchased a new position in shares of Teekay Tankers during the 4th quarter worth $77,000. New Age Alpha Advisors LLC purchased a new position in shares of Teekay Tankers during the 4th quarter worth $132,000. BNP Paribas Financial Markets purchased a new position in shares of Teekay Tankers during the 4th quarter worth $143,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of 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 purchasing an additional 286 shares during the period. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI dropped their target price on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. One investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.67.

Teekay Tankers Price Performance

NYSE TNK opened at $44.54 on Tuesday. The company has a market cap of $1.53 billion, a P/E ratio of 3.93 and a beta of -0.10. The stock has a 50-day moving average of $40.91 and a two-hundred day moving average of $40.75. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $74.20.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). The firm had revenue of $115.64 million during the quarter, compared to analyst estimates of $146.31 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business’s revenue was down 37.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.23 earnings per share. On average, analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The company also recently announced a — dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a $1.00 dividend. This is an increase from Teekay Tankers’s previous — dividend of $0.25. This represents a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 19th. Teekay Tankers’s payout ratio is currently 10.72%.

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.