5,120 Shares in Teekay Tankers Ltd. $TNK Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,120 shares of the shipping company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Encompass Capital Advisors LLC acquired a new stake in shares of Teekay Tankers during the first quarter worth about $17,210,000. Pacer Advisors Inc. acquired a new position in Teekay Tankers in the 1st quarter valued at about $11,986,000. Nuveen LLC purchased a new stake in Teekay Tankers during the 1st quarter valued at approximately $8,702,000. Oxbow Advisors LLC acquired a new stake in Teekay Tankers during the 2nd quarter worth approximately $4,074,000. Finally, Millennium Management LLC lifted its position in Teekay Tankers by 24.9% during the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after acquiring an additional 50,815 shares during the period. 52.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TNK shares. Clarkson Capital upgraded Teekay Tankers to a “strong-buy” rating in a research note on Wednesday, October 8th. Zacks Research raised shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Evercore ISI raised their target price on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Teekay Tankers in a report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price target on shares of Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.00.

Teekay Tankers Trading Up 0.8%

TNK stock opened at $63.01 on Wednesday. The firm has a 50 day moving average of $55.47 and a 200-day moving average of $48.93. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 7.00 and a beta of -0.11. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $63.30.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.04. The business had revenue of $115.21 million for the quarter, compared to analysts’ expectations of $133.65 million. Teekay Tankers had a return on equity of 10.81% and a net margin of 32.87%.The company’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Sell-side 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 declared 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. The ex-dividend date is Monday, November 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Teekay Tankers’s dividend payout ratio (DPR) is currently 11.11%.

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.