Quadrature Capital Ltd Has $1.71 Million Position in Teekay Tankers Ltd. (NYSE:TNK)

Quadrature Capital Ltd trimmed its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,172 shares of the shipping company’s stock after selling 5,213 shares during the quarter. Quadrature Capital Ltd’s holdings in Teekay Tankers were worth $1,708,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in Teekay Tankers during the 4th quarter worth approximately $38,000. PNC Financial Services Group Inc. increased its position in Teekay Tankers by 666.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock worth $62,000 after purchasing an additional 1,300 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Teekay Tankers during the 4th quarter worth approximately $80,000. Assetmark Inc. increased its position in Teekay Tankers by 82.6% during the 4th quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock worth $138,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Teekay Tankers during the 3rd quarter worth approximately $210,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

TNK opened at $66.60 on Wednesday. Teekay Tankers Ltd. has a fifty-two week low of $35.10 and a fifty-two week high of $74.20. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 1.48 and a beta of -0.23. The company’s 50 day moving average price is $65.08 and its two-hundred day moving average price is $58.70.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, May 9th. The shipping company reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.16. Teekay Tankers had a net margin of 37.39% and a return on equity of 30.73%. The firm had revenue of $221.81 million for the quarter. As a group, equities research analysts predict that Teekay Tankers Ltd. will post 14.67 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently disclosed a None dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were paid a $2.25 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 20th. Teekay Tankers’s dividend payout ratio is currently 7.07%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TNK. StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Evercore ISI reduced 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. Jefferies Financial Group boosted their target price on shares of Teekay Tankers from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Bank of America boosted their target price on shares of Teekay Tankers from $66.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, May 10th.

Teekay Tankers Company 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.