Paradiem LLC Has $3.66 Million Position in Teekay Tankers Ltd. (NYSE:TNK)

Paradiem LLC reduced its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 20.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 73,192 shares of the shipping company’s stock after selling 19,084 shares during the quarter. Paradiem LLC’s holdings in Teekay Tankers were worth $3,657,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TNK. CWM LLC grew its stake in shares of Teekay Tankers by 10,816.7% in the 3rd quarter. CWM LLC now owns 655 shares of the shipping company’s stock valued at $27,000 after buying an additional 649 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Teekay Tankers in the 3rd quarter valued at about $35,000. PNC Financial Services Group Inc. grew its stake in shares of Teekay Tankers by 666.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock valued at $62,000 after buying an additional 1,300 shares during the period. Assetmark Inc. grew its stake in shares of Teekay Tankers by 175.0% in the 3rd quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock valued at $63,000 after buying an additional 961 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Teekay Tankers in the 4th quarter valued at about $80,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TNK has been the subject of several research reports. Jefferies Financial Group restated a “buy” rating and issued a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd. Evercore ISI reduced their target price on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Bank of America raised shares of Teekay Tankers from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $72.00 in a research report on Friday, January 19th.

Teekay Tankers Stock Up 0.9 %

NYSE TNK traded up $0.53 during trading hours on Friday, hitting $58.66. The company’s stock had a trading volume of 198,665 shares, compared to its average volume of 307,065. Teekay Tankers Ltd. has a 52 week low of $35.00 and a 52 week high of $64.42. The company has a market capitalization of $2.00 billion, a PE ratio of 3.95, a price-to-earnings-growth ratio of 1.37 and a beta of -0.28. The company has a current ratio of 4.40, a quick ratio of 4.02 and a debt-to-equity ratio of 0.08. The company’s 50-day simple moving average is $56.49 and its two-hundred day simple moving average is $53.74.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The business had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. Research analysts anticipate that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. Teekay Tankers’s dividend payout ratio is currently 6.73%.

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.