Royce & Associates LP Acquires Shares of 225,683 Teekay Tankers Ltd. (NYSE:TNK)

Royce & Associates LP bought a new position in Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, Holdings Channel.com reports. The firm bought 225,683 shares of the shipping company’s stock, valued at approximately $8,980,000.

Other large investors have also modified their holdings of the company. Empowered Funds LLC acquired a new position in Teekay Tankers during the 4th quarter worth approximately $7,248,000. FMR LLC raised its stake in shares of Teekay Tankers by 9.2% during the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after purchasing an additional 124,659 shares during the period. Principal Financial Group Inc. lifted its position in shares of Teekay Tankers by 9.7% during the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock worth $52,815,000 after purchasing an additional 80,217 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Teekay Tankers by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock valued at $17,867,000 after purchasing an additional 72,798 shares during the period. Finally, Denali Advisors LLC acquired a new stake in Teekay Tankers during the 4th quarter valued at $2,204,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Trading Down 0.8 %

Shares of NYSE:TNK opened at $38.63 on Wednesday. The firm has a market cap of $1.33 billion, a PE ratio of 3.41 and a beta of -0.44. The company has a fifty day simple moving average of $40.87 and a 200 day simple moving average of $45.50. Teekay Tankers Ltd. has a 12-month low of $35.23 and a 12-month high of $74.20.

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, beating analysts’ consensus estimates of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. Teekay Tankers’s payout ratio is 8.83%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.