Teekay Tankers Ltd. (NYSE:TNK) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 92.3% during the fourth quarter, Holdings Channel reports. The fund owned 87,679 shares of the shipping company’s stock after purchasing an additional 42,094 shares during the quarter. Victory Capital Management Inc.’s holdings in Teekay Tankers were worth $3,489,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TNK. Entropy Technologies LP purchased a new stake in Teekay Tankers in the 3rd quarter valued at about $269,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $503,000. Segall Bryant & Hamill LLC lifted its stake in shares of Teekay Tankers by 3.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 78,644 shares of the shipping company’s stock valued at $4,581,000 after purchasing an additional 2,639 shares in the last quarter. Foundry Partners LLC lifted its stake in shares of Teekay Tankers by 89.3% in the 3rd quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock valued at $6,156,000 after purchasing an additional 49,853 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Teekay Tankers by 25.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 98,361 shares of the shipping company’s stock valued at $5,730,000 after purchasing an additional 19,895 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Stock Up 3.1 %

Shares of TNK opened at $37.89 on Monday. The business’s 50 day moving average is $40.97 and its two-hundred day moving average is $45.74. Teekay Tankers Ltd. has a 52-week low of $35.23 and a 52-week high of $74.20. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 3.35 and a beta of -0.44.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. On average, equities analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. Teekay Tankers’s dividend payout ratio (DPR) is 8.83%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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.