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

Royce & Associates LP acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 225,683 shares of the shipping company’s stock, valued at approximately $8,980,000. Royce & Associates LP owned approximately 0.66% of Teekay Tankers at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in Teekay Tankers in the 4th quarter valued at about $41,000. Millburn Ridgefield Corp purchased a new position in shares of Teekay Tankers during the third quarter valued at approximately $132,000. Steward Partners Investment Advisory LLC boosted its position in Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after acquiring an additional 286 shares during the last quarter. ClearAlpha Technologies LP acquired a new position in Teekay Tankers in the 3rd quarter valued at $255,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Teekay Tankers during the 3rd quarter worth $329,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Down 0.8 %

Shares of NYSE TNK opened at $38.63 on Wednesday. The stock has a market capitalization of $1.33 billion, a PE ratio of 3.41 and a beta of -0.44. The firm has a fifty day moving average of $40.87 and a 200-day moving average of $45.50. Teekay Tankers Ltd. has a 52-week low of $35.23 and a 52-week high of $74.20.

Teekay Tankers (NYSE:TNK) last posted its quarterly 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. The firm had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Equities research analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

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 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.