Huber Capital Management LLC
stated that they own a 5.9% stake in Teekay Tankers Ltd. (NYSE:TNK) in a Form 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, December 7th. The investor owns 14,408,252 shares of the stock worth $22,044,626. The disclosure is available through EDGAR at this hyperlink.
A number of other institutional investors have also bought and sold shares of the business. Cubist Systematic Strategies LLC lifted its stake in shares of Teekay Tankers by 21.8% during the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 9,526 shares during the period. Voya Investment Management LLC lifted its stake in shares of Teekay Tankers by 26.3% during the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after acquiring an additional 13,167 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Teekay Tankers by 10.4% during the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 7,500 shares during the period. Loews Corp lifted its stake in shares of Teekay Tankers by 17.6% during the second quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock valued at $165,000 after acquiring an additional 13,200 shares during the period. Finally, Creative Planning lifted its stake in shares of Teekay Tankers by 7.8% during the second quarter. Creative Planning now owns 98,857 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 7,173 shares during the period. 35.91% of the stock is currently owned by institutional investors.
Teekay Tankers Ltd. (TNK) traded down $0.04 during trading hours on Thursday, reaching $1.53. The company’s stock had a trading volume of 1,626,900 shares, compared to its average volume of 1,338,531. Teekay Tankers Ltd. has a 1 year low of $1.37 and a 1 year high of $2.78. The company has a current ratio of 0.67, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73.
Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, November 9th. The shipping company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Teekay Tankers had a negative return on equity of 0.99% and a negative net margin of 11.43%. The firm had revenue of $91.20 million for the quarter, compared to analyst estimates of $68.67 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was down 16.8% on a year-over-year basis. research analysts anticipate that Teekay Tankers Ltd. will post -0.13 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Monday, November 20th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 7.84%. The ex-dividend date was Friday, November 17th. Teekay Tankers’s payout ratio is -42.86%.
TNK has been the topic of several research reports. BidaskClub lowered Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 13th. Zacks Investment Research lowered Teekay Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Finally, Bank of America cut their price target on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a research note on Friday, November 10th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Teekay Tankers presently has an average rating of “Sell” and an average target price of $1.60.
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Teekay Tankers Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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