Fox Run Management L.L.C. Makes New Investment in Teekay Tankers Ltd. (NYSE:TNK)

Fox Run Management L.L.C. purchased a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, Holdings Channel.com reports. The fund purchased 14,640 shares of the shipping company’s stock, valued at approximately $583,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in Teekay Tankers by 7.8% in the 4th quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company’s stock valued at $36,394,000 after acquiring an additional 66,332 shares during the period. Quantbot Technologies LP raised its position in shares of Teekay Tankers by 492.1% in the fourth quarter. Quantbot Technologies LP now owns 57,135 shares of the shipping company’s stock valued at $2,273,000 after purchasing an additional 47,485 shares during the period. Magnetar Financial LLC raised its position in shares of Teekay Tankers by 30.3% in the fourth quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company’s stock valued at $248,000 after purchasing an additional 1,445 shares during the period. Royce & Associates LP purchased a new stake in shares of Teekay Tankers during the 4th quarter valued at approximately $8,980,000. Finally, Great Lakes Advisors LLC boosted its holdings in Teekay Tankers by 29.0% in the 4th quarter. Great Lakes Advisors LLC now owns 68,851 shares of the shipping company’s stock worth $2,740,000 after buying an additional 15,477 shares during the period. Institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a research 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 company. According to data from MarketBeat, Teekay Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Teekay Tankers Trading Up 1.5 %

TNK stock opened at $39.04 on Tuesday. The firm has a 50 day moving average of $40.48 and a 200-day moving average of $45.07. The firm has a market capitalization of $1.34 billion, a P/E ratio of 3.45 and a beta of -0.44. Teekay Tankers Ltd. has a 12 month low of $35.23 and a 12 month high of $74.20.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. Sell-side analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, March 3rd. 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.