14,800 Shares in Teekay Tankers Ltd. (NYSE:TNK) Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,800 shares of the shipping company’s stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TNK. Steward Partners Investment Advisory LLC lifted its stake in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 286 shares during the period. Kendall Capital Management boosted its holdings in Teekay Tankers by 3.3% in the fourth quarter. Kendall Capital Management now owns 17,965 shares of the shipping company’s stock valued at $715,000 after purchasing an additional 580 shares during the last quarter. R Squared Ltd acquired a new stake in Teekay Tankers during the 4th quarter worth about $41,000. Linden Thomas Advisory Services LLC grew its position in Teekay Tankers by 21.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock worth $493,000 after purchasing an additional 2,211 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Teekay Tankers by 41.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock valued at $307,000 after buying an additional 2,248 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Teekay Tankers Stock Performance

TNK opened at $37.89 on Friday. The company has a fifty day moving average of $40.97 and a two-hundred day moving average of $45.88. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 3.35 and a beta of -0.44. Teekay Tankers Ltd. has a fifty-two week low of $35.23 and a fifty-two week high of $74.20.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $163.42 million for the quarter, compared to analysts’ expectations of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. On average, equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s payout ratio is 8.83%.

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.