Choreo LLC Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

Choreo LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,688 shares of the shipping company’s stock, valued at approximately $462,000.

Several other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of 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 acquiring an additional 54,886 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Teekay Tankers by 41.3% during the 2nd quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock valued at $64,361,000 after acquiring an additional 273,530 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Teekay Tankers by 6.3% during the 1st quarter. Principal Financial Group Inc. now owns 881,364 shares of the shipping company’s stock valued at $51,480,000 after acquiring an additional 52,476 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Teekay Tankers by 3.5% during the 1st quarter. Bridgeway Capital Management LLC now owns 311,392 shares of the shipping company’s stock valued at $18,188,000 after acquiring an additional 10,500 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Teekay Tankers by 485.2% in the first quarter. SG Americas Securities LLC now owns 298,492 shares of the shipping company’s stock valued at $17,435,000 after buying an additional 247,489 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Trading Up 0.1 %

Shares of TNK stock opened at $55.11 on Monday. Teekay Tankers Ltd. has a 1 year low of $37.20 and a 1 year high of $74.20. The firm’s 50 day moving average is $58.61 and its 200-day moving average is $61.45. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 3.90, a PEG ratio of 1.38 and a beta of -0.32.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $192.19 million. During the same quarter in the previous year, the company posted $4.38 earnings per share. Teekay Tankers’s revenue for the quarter was down 20.0% on a year-over-year basis. On average, equities research analysts forecast that Teekay Tankers Ltd. will post 13.33 earnings per share for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.81%. Teekay Tankers’s payout ratio is 7.07%.

Wall Street Analyst Weigh In

TNK has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Jefferies Financial Group restated a “buy” rating and issued a $76.00 price target on shares of Teekay Tankers in a research report on Thursday, August 1st. Bank of America reduced 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. Finally, Evercore ISI boosted their price target on shares of Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

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.