Ellevest Inc. Boosts Stock Position in Teekay Tankers Ltd. $TNK

Ellevest Inc. raised its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 30.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the shipping company’s stock after buying an additional 2,197 shares during the period. Ellevest Inc.’s holdings in Teekay Tankers were worth $392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Teekay Tankers by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 906 shares of the shipping company’s stock worth $38,000 after acquiring an additional 394 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Teekay Tankers by 19.7% in the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock valued at $71,000 after purchasing an additional 304 shares during the last quarter. CWM LLC increased its stake in Teekay Tankers by 399.3% in the first quarter. CWM LLC now owns 3,480 shares of the shipping company’s stock valued at $133,000 after purchasing an additional 2,783 shares during the last quarter. U S Global Investors Inc. acquired a new stake in Teekay Tankers during the second quarter worth approximately $158,000. Finally, Cable Hill Partners LLC purchased a new stake in shares of Teekay Tankers during the 1st quarter worth approximately $184,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of NYSE:TNK opened at $61.05 on Friday. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $61.88. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 6.78 and a beta of -0.11. The company has a 50-day simple moving average of $53.71 and a 200-day simple moving average of $47.69.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.04. The firm had revenue of $115.21 million for the quarter, compared to analyst estimates of $133.65 million. Teekay Tankers had a return on equity of 10.81% and a net margin of 32.87%.The business’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. As a group, research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Monday, November 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, November 10th. Teekay Tankers’s dividend payout ratio is 11.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TNK shares. Jefferies Financial Group increased their target price on shares of Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Clarkson Capital raised Teekay Tankers to a “strong-buy” rating in a report on Wednesday, October 8th. Evercore ISI lifted their target price on Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Zacks Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Teekay Tankers in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.67.

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.