Royce & Associates LP Purchases 14,707 Shares of Teekay Tankers Ltd. $TNK

Royce & Associates LP boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 211,590 shares of the shipping company’s stock after purchasing an additional 14,707 shares during the period. Royce & Associates LP owned about 0.61% of Teekay Tankers worth $10,696,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Teekay Tankers in the 3rd quarter worth approximately $54,000. Global Retirement Partners LLC increased its holdings in Teekay Tankers by 162.6% during the third quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock valued at $104,000 after buying an additional 1,278 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Teekay Tankers during the third quarter valued at approximately $111,000. Osaic Holdings Inc. raised its position in Teekay Tankers by 85.9% in the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock worth $101,000 after acquiring an additional 1,123 shares during the period. Finally, State of Wyoming purchased a new position in shares of Teekay Tankers during the 2nd quarter worth $129,000. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Stock Down 3.0%

NYSE:TNK opened at $75.82 on Wednesday. The business’s 50-day simple moving average is $63.81 and its two-hundred day simple moving average is $57.73. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $82.24. The stock has a market cap of $2.62 billion, a PE ratio of 7.51 and a beta of -0.32.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.09. The firm had revenue of $158.78 million during the quarter, compared to analysts’ expectations of $179.70 million. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $1.50 earnings per share. Sell-side analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, March 2nd. Teekay Tankers’s dividend payout ratio (DPR) is 9.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TNK shares. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Wall Street Zen downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Evercore reaffirmed an “outperform” rating and set a $84.00 price objective on shares of Teekay Tankers in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.