Nisa Investment Advisors LLC Buys 4,269 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Nisa Investment Advisors LLC increased its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 11,234.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,307 shares of the shipping company’s stock after purchasing an additional 4,269 shares during the period. Nisa Investment Advisors LLC’s holdings in Teekay Tankers were worth $296,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new stake in shares of Teekay Tankers in the fourth quarter worth about $38,000. EntryPoint Capital LLC boosted its holdings in Teekay Tankers by 76.5% in the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 378 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Teekay Tankers during the 4th quarter valued at $80,000. Blue Trust Inc. increased its holdings in shares of Teekay Tankers by 14.7% in the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after purchasing an additional 172 shares during the period. Finally, Assetmark Inc. raised its position in shares of Teekay Tankers by 82.6% in the fourth quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock worth $138,000 after buying an additional 1,248 shares in the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Trading Up 1.6 %

Shares of Teekay Tankers stock opened at $55.71 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of 3.94, a price-to-earnings-growth ratio of 1.45 and a beta of -0.28. The business’s 50-day moving average price is $62.72 and its 200-day moving average price is $61.61. Teekay Tankers Ltd. has a 12 month low of $37.20 and a 12 month 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). The firm had revenue of $296.60 million for the quarter, compared to the consensus estimate of $192.19 million. Teekay Tankers had a net margin of 36.04% and a return on equity of 26.34%. Teekay Tankers’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.38 earnings per share. As a group, analysts predict that Teekay Tankers Ltd. will post 13.33 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Teekay Tankers’s dividend payout ratio (DPR) is presently 7.07%.

Wall Street Analysts Forecast Growth

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

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.