CSM Advisors LLC Acquires 20,214 Shares of Teekay Tankers Ltd. $TNK

CSM Advisors LLC grew its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 42.5% in the third quarter, Holdings Channel reports. The firm owned 67,774 shares of the shipping company’s stock after acquiring an additional 20,214 shares during the period. CSM Advisors LLC’s holdings in Teekay Tankers were worth $3,427,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TNK. State of Alaska Department of Revenue purchased a new position in Teekay Tankers in the 3rd quarter worth about $54,000. Osaic Holdings Inc. boosted its position in Teekay Tankers by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,123 shares during the period. Global Retirement Partners LLC grew its stake in Teekay Tankers by 162.6% in the 3rd quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock worth $104,000 after acquiring an additional 1,278 shares in the last quarter. Quantbot Technologies LP bought a new position in Teekay Tankers in the 3rd quarter worth about $111,000. Finally, State of Wyoming purchased a new position in shares of Teekay Tankers during the second quarter worth approximately $129,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Shares of TNK opened at $66.24 on Tuesday. The company has a 50 day moving average price of $66.88 and a 200-day moving average price of $59.22. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $82.24. The stock has a market capitalization of $2.29 billion, a PE ratio of 6.56 and a beta of -0.32.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Wednesday, February 18th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.09. The company had revenue of $158.78 million for the quarter, compared to analyst estimates of $179.70 million. Teekay Tankers had a net margin of 36.90% and a return on equity of 12.60%. Teekay Tankers’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. Equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a $0.25 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Teekay Tankers’s dividend payout ratio (DPR) is currently 9.91%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TNK shares. Wall Street Zen lowered Teekay Tankers from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Evercore reiterated an “outperform” rating and issued a $84.00 target price on shares of Teekay Tankers in a report on Friday, February 20th. Zacks Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $77.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.