Teekay Tankers Ltd. (NYSE:TNK) Shares Acquired by Bailard Inc.

Bailard Inc. lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 57.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,114 shares of the shipping company’s stock after acquiring an additional 4,400 shares during the quarter. Bailard Inc.’s holdings in Teekay Tankers were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Teekay Tankers by 52.9% during the 3rd quarter. Principal Financial Group Inc. now owns 596,967 shares of the shipping company’s stock valued at $24,852,000 after acquiring an additional 206,561 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Teekay Tankers by 94.3% in the 3rd quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company’s stock worth $17,022,000 after buying an additional 198,613 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Teekay Tankers by 180.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 182,816 shares of the shipping company’s stock worth $7,611,000 after buying an additional 117,716 shares in the last quarter. American Century Companies Inc. lifted its holdings in Teekay Tankers by 24.0% in the 3rd quarter. American Century Companies Inc. now owns 176,957 shares of the shipping company’s stock worth $7,367,000 after buying an additional 34,232 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Teekay Tankers in the 4th quarter worth $6,243,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

TNK opened at $58.66 on Friday. The company has a 50-day moving average of $56.49 and a 200-day moving average of $53.74. The company has a market capitalization of $2.00 billion, a P/E ratio of 3.95, a PEG ratio of 1.37 and a beta of -0.28. Teekay Tankers Ltd. has a 1-year low of $35.00 and a 1-year high of $64.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40.

Teekay Tankers (NYSE:TNK) last released its 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). The company had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. Equities analysts expect that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNK. Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price objective on shares of Teekay Tankers in a report on Thursday, February 22nd. StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Evercore ISI cut their price objective on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Finally, Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $72.00 in a report on Friday, January 19th.

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.