Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 14.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 172,896 shares of the shipping company’s stock after selling 28,763 shares during the quarter. Marshall Wace LLP’s holdings in Teekay Tankers were worth $11,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tucker Asset Management LLC purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $38,000. Fifth Third Bancorp increased its position in shares of Teekay Tankers by 266.7% in the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 456 shares during the period. EntryPoint Capital LLC raised its stake in Teekay Tankers by 76.5% in the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock worth $51,000 after acquiring an additional 378 shares during the last quarter. Blue Trust Inc. lifted its position in Teekay Tankers by 14.7% during the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after acquiring an additional 172 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new stake in Teekay Tankers during the 2nd quarter valued at about $204,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Trading Down 1.6 %

Teekay Tankers stock opened at $58.31 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of 4.12, a P/E/G ratio of 1.44 and a beta of -0.32. Teekay Tankers Ltd. has a 12 month low of $37.20 and a 12 month high of $74.20. The stock’s 50 day simple moving average is $57.24 and its two-hundred day simple moving average is $61.60.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.13). The firm had revenue of $296.60 million for the quarter, compared to analysts’ expectations of $192.19 million. Teekay Tankers had a return on equity of 26.34% and a net margin of 36.04%. The business’s quarterly revenue was down 20.0% on a year-over-year basis. During the same period last year, the company posted $4.38 earnings per share. On average, equities research analysts forecast that Teekay Tankers Ltd. will post 13.33 EPS for the current year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. Teekay Tankers’s dividend payout ratio is currently 7.07%.

Wall Street Analyst Weigh In

TNK has been the subject of a number of research reports. Bank of America decreased their target price on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. StockNews.com cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 price objective on shares of Teekay Tankers in a research note on Thursday, August 1st. Finally, Evercore ISI boosted their target price on shares of Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

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.