Cwm LLC Buys 482 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Cwm LLC lifted its stake in Teekay Tankers Ltd. (NYSE:TNK) by 96.8% during the third quarter, HoldingsChannel.com reports. The firm owned 980 shares of the shipping company’s stock after purchasing an additional 482 shares during the quarter. Cwm LLC’s holdings in Teekay Tankers were worth $57,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in Teekay Tankers by 41.3% in the 2nd quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock valued at $64,361,000 after acquiring an additional 273,530 shares in the last quarter. SG Americas Securities LLC lifted its position in Teekay Tankers by 485.2% in the 1st quarter. SG Americas Securities LLC now owns 298,492 shares of the shipping company’s stock valued at $17,435,000 after acquiring an additional 247,489 shares in the last quarter. Renaissance Technologies LLC lifted its position in Teekay Tankers by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company’s stock valued at $49,172,000 after acquiring an additional 123,500 shares in the last quarter. American Century Companies Inc. lifted its position in Teekay Tankers by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock valued at $49,495,000 after acquiring an additional 93,788 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in Teekay Tankers in the 2nd quarter valued at approximately $3,842,000. 52.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TNK has been the topic of several analyst reports. Bank of America lowered their price objective on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Jefferies Financial Group reiterated a “buy” rating and set a $76.00 price objective on shares of Teekay Tankers in a research report on Thursday, August 1st. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com started coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They set a “hold” rating for the company. Finally, Evercore ISI increased their price objective on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Teekay Tankers presently has an average rating of “Buy” and an average target price of $76.67.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $50.02 on Monday. The firm has a fifty day moving average price of $56.11 and a 200-day moving average price of $61.54. The stock has a market cap of $1.71 billion, a PE ratio of 3.54, a price-to-earnings-growth ratio of 1.33 and a beta of -0.33. Teekay Tankers Ltd. has a 1 year low of $46.25 and a 1 year high of $74.20.

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

Teekay Tankers Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.00%. Teekay Tankers’s dividend payout ratio (DPR) is currently 7.07%.

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.