Goldman Sachs Group Inc. Has $7.39 Million Holdings in Teekay Tankers Ltd. $TNK

Goldman Sachs Group Inc. cut its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,958 shares of the shipping company’s stock after selling 7,449 shares during the period. Goldman Sachs Group Inc. owned about 0.56% of Teekay Tankers worth $7,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock valued at $66,000 after buying an additional 568 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Teekay Tankers by 19.7% in the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock valued at $71,000 after buying an additional 304 shares in the last quarter. CWM LLC grew its stake in shares of Teekay Tankers by 399.3% in the first quarter. CWM LLC now owns 3,480 shares of the shipping company’s stock valued at $133,000 after buying an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Teekay Tankers in the fourth quarter valued at $143,000. Finally, Cable Hill Partners LLC bought a new position in shares of Teekay Tankers in the first quarter valued at $184,000. 52.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TNK. Zacks Research raised shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Teekay Tankers Price Performance

TNK stock opened at $52.15 on Friday. The company has a fifty day moving average price of $46.25 and a two-hundred day moving average price of $43.17. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $62.45. The stock has a market cap of $1.79 billion and a price-to-earnings ratio of 6.48.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.The company had revenue of $154.23 million for the quarter, compared to the consensus estimate of $162.67 million. During the same period last year, the firm earned $3.11 earnings per share. Research analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 11th. Teekay Tankers’s payout ratio is presently 12.42%.

About Teekay Tankers

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.