Paradiem LLC Has $3.66 Million Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Paradiem LLC reduced its position in Teekay Tankers Ltd. (NYSE:TNK) by 20.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 73,192 shares of the shipping company’s stock after selling 19,084 shares during the period. Paradiem LLC owned 0.21% of Teekay Tankers worth $3,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TNK. Principal Financial Group Inc. increased its stake in shares of Teekay Tankers by 52.9% in the 3rd quarter. Principal Financial Group Inc. now owns 596,967 shares of the shipping company’s stock valued at $24,852,000 after buying an additional 206,561 shares during the period. Acadian Asset Management LLC increased its stake in shares of Teekay Tankers by 94.3% in the 3rd quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company’s stock valued at $17,022,000 after buying an additional 198,613 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Teekay Tankers in the 4th quarter valued at $6,243,000. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Teekay Tankers by 180.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 182,816 shares of the shipping company’s stock valued at $7,611,000 after buying an additional 117,716 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its stake in shares of Teekay Tankers by 409.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 74,308 shares of the shipping company’s stock valued at $3,093,000 after buying an additional 59,728 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Trading Up 0.9 %

Shares of Teekay Tankers stock traded up $0.53 during trading on Friday, reaching $58.66. 198,665 shares of the company were exchanged, compared to its average volume of 307,065. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. Teekay Tankers Ltd. has a twelve month low of $35.00 and a twelve month high of $64.42. The business has a 50-day moving average price of $56.49 and a 200-day moving average price of $53.74. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.95, a P/E/G ratio of 1.37 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The business had revenue of $194.46 million during the quarter, compared to analyst estimates of $219.93 million. Sell-side analysts anticipate that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. Teekay Tankers’s payout ratio is 6.73%.

Wall Street Analysts Forecast Growth

TNK has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd. Evercore ISI decreased their price objective on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Bank of America raised Teekay Tankers from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $72.00 in a research note on Friday, January 19th. Finally, StockNews.com raised Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st.

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.