Rhumbline Advisers Raises Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Rhumbline Advisers raised its stake in Teekay Tankers Ltd. (NYSE:TNK) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,179 shares of the shipping company’s stock after purchasing an additional 1,618 shares during the period. Rhumbline Advisers’ holdings in Teekay Tankers were worth $2,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Teekay Tankers by 14.7% during the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after buying an additional 172 shares during the period. Commonwealth Equity Services LLC lifted its position in Teekay Tankers by 8.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,013 shares of the shipping company’s stock worth $276,000 after acquiring an additional 323 shares during the period. EntryPoint Capital LLC grew its stake in Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 378 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 456 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Teekay Tankers by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 23,661 shares of the shipping company’s stock worth $1,182,000 after purchasing an additional 542 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Teekay Tankers Price Performance

NYSE:TNK opened at $55.83 on Thursday. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 1.41 and a beta of -0.32. Teekay Tankers Ltd. has a 1-year low of $37.20 and a 1-year high of $74.20. The company’s 50-day moving average is $58.29 and its two-hundred day moving average is $61.47.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.11 EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was down 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.38 earnings per share. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 13.33 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, August 12th. Teekay Tankers’s payout ratio is presently 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.