Royce & Associates LP Sells 39,542 Shares of Teekay Tankers Ltd. $TNK

Royce & Associates LP decreased its stake in Teekay Tankers Ltd. (NYSE:TNK) by 18.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 172,048 shares of the shipping company’s stock after selling 39,542 shares during the period. Royce & Associates LP’s holdings in Teekay Tankers were worth $9,191,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Teekay Tankers by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock worth $98,000 after acquiring an additional 172 shares during the period. CWA Asset Management Group LLC raised its position in Teekay Tankers by 1.5% in the fourth quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock worth $621,000 after acquiring an additional 176 shares during the period. Glenorchy Capital Ltd raised its position in Teekay Tankers by 0.5% in the fourth quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock worth $1,973,000 after acquiring an additional 198 shares during the period. CWM LLC raised its position in Teekay Tankers by 2.4% in the fourth quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock worth $490,000 after acquiring an additional 216 shares during the period. Finally, Global Retirement Partners LLC raised its position in Teekay Tankers by 12.7% in the fourth quarter. Global Retirement Partners LLC now owns 2,326 shares of the shipping company’s stock worth $124,000 after acquiring an additional 262 shares during the period. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Price Performance

TNK stock opened at $70.49 on Friday. Teekay Tankers Ltd. has a one year low of $41.05 and a one year high of $83.99. The stock has a market cap of $2.44 billion, a PE ratio of 5.73 and a beta of -0.21. The firm has a 50 day simple moving average of $75.43 and a two-hundred day simple moving average of $66.89.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. On average, research analysts expect that Teekay Tankers Ltd. will post 13.75 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $1.00 annualized dividend and a yield of 1.4%. Teekay Tankers’s dividend payout ratio is 8.13%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Dnb Carnegie lowered shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Bank of America boosted their price target on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday, May 20th. Evercore reissued an “outperform” rating and issued a $86.00 price target on shares of Teekay Tankers in a research report on Friday, May 15th. Finally, Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.00.

Teekay Tankers 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.