SG Americas Securities LLC Acquires 247,489 Shares of Teekay Tankers Ltd. (NYSE:TNK)

SG Americas Securities LLC raised its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 485.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 298,492 shares of the shipping company’s stock after acquiring an additional 247,489 shares during the period. SG Americas Securities LLC’s holdings in Teekay Tankers were worth $17,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TNK. Principal Financial Group Inc. grew its stake in Teekay Tankers by 38.8% during the fourth quarter. Principal Financial Group Inc. now owns 828,888 shares of the shipping company’s stock valued at $41,420,000 after acquiring an additional 231,921 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Teekay Tankers in the fourth quarter worth about $6,243,000. Glenorchy Capital Ltd bought a new stake in shares of Teekay Tankers in the fourth quarter worth about $2,787,000. Dimensional Fund Advisors LP lifted its position in shares of Teekay Tankers by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company’s stock worth $100,964,000 after buying an additional 54,886 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Teekay Tankers by 24.0% during the third quarter. American Century Companies Inc. now owns 176,957 shares of the shipping company’s stock valued at $7,367,000 after buying an additional 34,232 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded down $1.29 during trading on Friday, hitting $62.94. The company had a trading volume of 214,895 shares, compared to its average volume of 287,521. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 4.45, a price-to-earnings-growth ratio of 1.46 and a beta of -0.28. The company has a fifty day simple moving average of $68.86 and a two-hundred day simple moving average of $60.89. Teekay Tankers Ltd. has a one year low of $36.54 and a one year high of $74.20.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.16. The company had revenue of $221.81 million during the quarter. Teekay Tankers had a return on equity of 30.73% and a net margin of 37.39%. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 14.69 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The company also recently declared a None dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were paid a dividend of $2.25 per share. The ex-dividend date was Monday, May 20th. This represents a dividend yield of 1.5%. Teekay Tankers’s dividend payout ratio is presently 7.07%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TNK shares. Bank of America lifted their price objective on Teekay Tankers from $66.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Jefferies Financial Group boosted their price target on shares of Teekay Tankers from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 17th.

Teekay Tankers Company Profile

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.