Renaissance Technologies LLC Purchases 123,500 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Renaissance Technologies LLC grew its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 20.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 714,612 shares of the shipping company’s stock after acquiring an additional 123,500 shares during the quarter. Renaissance Technologies LLC owned about 2.09% of Teekay Tankers worth $49,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Teekay Tankers by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company’s stock valued at $100,964,000 after purchasing an additional 54,886 shares in the last quarter. Assetmark Inc. lifted its position in Teekay Tankers by 82.6% in the 4th quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock valued at $138,000 after acquiring an additional 1,248 shares in the last quarter. Franklin Resources Inc. boosted its stake in Teekay Tankers by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 23,661 shares of the shipping company’s stock valued at $1,182,000 after purchasing an additional 542 shares during the last quarter. Harvest Investment Services LLC bought a new stake in Teekay Tankers during the 4th quarter worth approximately $1,564,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of Teekay Tankers by 4.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 300,892 shares of the shipping company’s stock worth $15,036,000 after purchasing an additional 11,605 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TNK. Evercore ISI upped their price target on Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America dropped their price target on shares of Teekay Tankers from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Jefferies Financial Group restated a “buy” rating and set a $76.00 price target on shares of Teekay Tankers in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Teekay Tankers Price Performance

NYSE TNK opened at $56.15 on Wednesday. The business’s fifty day moving average is $58.44 and its 200-day moving average is $61.46. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 3.97, a PEG ratio of 1.38 and a beta of -0.32. Teekay Tankers Ltd. has a one year low of $37.20 and a one year high of $74.20.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.11 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.13). Teekay Tankers had a return on equity of 26.34% and a net margin of 36.04%. The company had revenue of $296.60 million during the quarter, compared to the consensus estimate of $192.19 million. During the same period in the prior year, the firm posted $4.38 EPS. The business’s revenue was down 20.0% on a year-over-year basis. Research analysts expect that Teekay Tankers Ltd. will post 13.33 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, August 12th. Teekay Tankers’s dividend payout ratio is currently 7.07%.

Teekay Tankers 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.