Moors & Cabot Inc. Invests $589,000 in Teekay Tankers Ltd. (NYSE:TNK)

Moors & Cabot Inc. purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,800 shares of the shipping company’s stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $41,000. Millburn Ridgefield Corp acquired a new stake in shares of Teekay Tankers in the third quarter worth approximately $132,000. Steward Partners Investment Advisory LLC increased its position in shares of Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after purchasing an additional 286 shares in the last quarter. Ieq Capital LLC acquired a new position in Teekay Tankers in the 4th quarter valued at $247,000. Finally, ClearAlpha Technologies LP purchased a new position in Teekay Tankers in the 3rd quarter valued at $255,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Teekay Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Stock Performance

NYSE:TNK opened at $37.89 on Friday. Teekay Tankers Ltd. has a one year low of $35.23 and a one year high of $74.20. The stock has a market cap of $1.30 billion, a PE ratio of 3.35 and a beta of -0.44. The stock has a 50 day moving average price of $40.97 and a 200 day moving average price of $45.88.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. As a group, analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.64%. Teekay Tankers’s payout ratio is 8.83%.

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.