Royce & Associates LP Buys 14,707 Shares of Teekay Tankers Ltd. $TNK

Royce & Associates LP boosted its stake in Teekay Tankers Ltd. (NYSE:TNK) by 7.5% during the 3rd quarter, Holdings Channel reports. The firm owned 211,590 shares of the shipping company’s stock after buying an additional 14,707 shares during the quarter. Royce & Associates LP’s holdings in Teekay Tankers were worth $10,696,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Teekay Tankers in the third quarter worth about $54,000. Osaic Holdings Inc. boosted its stake in Teekay Tankers by 85.9% during the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,123 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Teekay Tankers by 162.6% during the 3rd quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock valued at $104,000 after buying an additional 1,278 shares in the last quarter. Quantbot Technologies LP bought a new stake in Teekay Tankers in the 3rd quarter worth approximately $111,000. Finally, State of Wyoming bought a new stake in Teekay Tankers in the 2nd quarter worth approximately $129,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Down 3.0%

Shares of TNK opened at $75.82 on Wednesday. The business has a fifty day moving average of $63.81 and a 200 day moving average of $57.73. The company has a market cap of $2.62 billion, a PE ratio of 7.51 and a beta of -0.32. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $82.24.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.09. Teekay Tankers had a net margin of 36.90% and a return on equity of 12.60%. The business had revenue of $158.78 million for the quarter, compared to the consensus estimate of $179.70 million. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, March 2nd. Teekay Tankers’s payout ratio is 9.91%.

Analyst Ratings Changes

A number of research firms have recently commented on TNK. Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Wall Street Zen downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Evercore reissued an “outperform” rating and issued a $84.00 price objective on shares of Teekay Tankers in a research note on Friday, February 20th. DNB Markets downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $77.00.

Teekay Tankers Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.