5,120 Shares in Teekay Tankers Ltd. $TNK Purchased by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,120 shares of the shipping company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Encompass Capital Advisors LLC purchased a new position in shares of Teekay Tankers in the first quarter valued at approximately $17,210,000. Pacer Advisors Inc. purchased a new position in Teekay Tankers in the 1st quarter valued at approximately $11,986,000. Nuveen LLC purchased a new stake in shares of Teekay Tankers during the first quarter worth $8,702,000. Oxbow Advisors LLC acquired a new stake in shares of Teekay Tankers in the second quarter valued at $4,074,000. Finally, Millennium Management LLC grew its stake in Teekay Tankers by 24.9% during the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after purchasing an additional 50,815 shares in the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

NYSE TNK opened at $63.01 on Wednesday. The firm’s fifty day moving average price is $55.47 and its 200 day moving average price is $48.93. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $63.30. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 7.00 and a beta of -0.11.

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

Teekay Tankers Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on TNK shares. Weiss Ratings restated a “hold (c+)” rating on shares of Teekay Tankers in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Evercore ISI increased their target price on Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group lifted their price target on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Clarkson Capital raised Teekay Tankers to a “strong-buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

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.