Teekay Tankers Ltd. $TNK Shares Acquired by Ellevest Inc.

Ellevest Inc. boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 30.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,400 shares of the shipping company’s stock after purchasing an additional 2,197 shares during the period. Ellevest Inc.’s holdings in Teekay Tankers were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new position in shares of Teekay Tankers during the 2nd quarter worth approximately $209,000. Y Intercept Hong Kong Ltd grew its holdings in Teekay Tankers by 89.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 24,693 shares of the shipping company’s stock worth $1,030,000 after acquiring an additional 11,675 shares during the period. Envestnet Asset Management Inc. raised its position in Teekay Tankers by 70.5% in the second quarter. Envestnet Asset Management Inc. now owns 17,684 shares of the shipping company’s stock worth $738,000 after acquiring an additional 7,313 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Teekay Tankers by 6,154.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,442 shares of the shipping company’s stock valued at $269,000 after acquiring an additional 6,339 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Teekay Tankers by 28.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,989 shares of the shipping company’s stock valued at $751,000 after acquiring an additional 3,973 shares during the period. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TNK. Zacks Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Clarkson Capital upgraded shares of Teekay Tankers to a “strong-buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Teekay Tankers in a report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Evercore ISI upped their price target on Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.67.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $61.05 on Friday. The firm’s 50-day moving average is $53.71 and its two-hundred day moving average is $47.69. The company has a market capitalization of $2.09 billion, a PE ratio of 6.78 and a beta of -0.11. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $61.88.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.04. Teekay Tankers had a return on equity of 10.81% and a net margin of 32.87%.The firm had revenue of $115.21 million during the quarter, compared to the consensus estimate of $133.65 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Monday, November 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, November 10th. Teekay Tankers’s dividend payout ratio is currently 11.11%.

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.