Bleakley Financial Group LLC Boosts Stake in Teekay Tankers Ltd. (NYSE:TNK)

Bleakley Financial Group LLC lifted its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,396 shares of the shipping company’s stock after purchasing an additional 255 shares during the quarter. Bleakley Financial Group LLC’s holdings in Teekay Tankers were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake in shares of Teekay Tankers by 10,816.7% in the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after purchasing an additional 649 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in Teekay Tankers during the third quarter valued at $35,000. FMR LLC increased its position in Teekay Tankers by 41.9% during the first quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 301 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Teekay Tankers during the fourth quarter valued at $46,000. Finally, PNC Financial Services Group Inc. increased its position in Teekay Tankers by 666.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock valued at $62,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $72.00 in a research report on Friday, January 19th. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price target on shares of Teekay Tankers in a research report on Thursday, February 22nd. Evercore ISI reduced their price target on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st.

Teekay Tankers Stock Performance

NYSE TNK opened at $57.68 on Monday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 3.88, a price-to-earnings-growth ratio of 1.35 and a beta of -0.28. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $56.67 and a 200-day moving average price of $52.63. Teekay Tankers Ltd. has a twelve month low of $35.00 and a twelve month high of $64.42.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). The business had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. As a group, equities research analysts predict that Teekay Tankers Ltd. will post 14.28 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers’s dividend payout ratio (DPR) is 6.73%.

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.