Raymond James & Associates Buys Shares of 11,326 Teekay Tankers Ltd. (NYSE:TNK)

Raymond James & Associates bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,326 shares of the shipping company’s stock, valued at approximately $566,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC increased its stake in shares of Teekay Tankers by 10,816.7% during the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 649 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of Teekay Tankers during the third quarter valued at approximately $35,000. Linden Thomas Advisory Services LLC increased its position in shares of Teekay Tankers by 14.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 6,994 shares of the shipping company’s stock valued at $291,000 after acquiring an additional 896 shares in the last quarter. Assetmark Inc. increased its position in shares of Teekay Tankers by 175.0% during the third quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 961 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of 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 in the last quarter. Institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TNK. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price target on shares of Teekay Tankers in a research report on Thursday, February 22nd. StockNews.com raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $72.00 in a report on Friday, January 19th. Finally, Evercore ISI dropped their target price on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd.

Teekay Tankers Trading Up 2.7 %

Shares of TNK stock opened at $58.13 on Friday. Teekay Tankers Ltd. has a 12-month low of $35.00 and a 12-month high of $64.42. The company has a current ratio of 4.40, a quick ratio of 4.02 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $56.48 and its 200 day moving average is $53.52. The stock has a market capitalization of $1.98 billion, a P/E ratio of 3.91, a P/E/G ratio of 1.32 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($0.81). Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. The company had revenue of $194.46 million during the quarter, compared to analysts’ expectations of $219.93 million. Research analysts expect that Teekay Tankers Ltd. will post 14.28 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, March 1st. Teekay Tankers’s dividend payout ratio is presently 6.73%.

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.