New Age Alpha Advisors LLC Makes New $132,000 Investment in Teekay Tankers Ltd. (NYSE:TNK)

New Age Alpha Advisors LLC acquired a new position in Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,328 shares of the shipping company’s stock, valued at approximately $132,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Teekay Tankers in the fourth quarter worth approximately $41,000. Millburn Ridgefield Corp acquired a new stake in shares of Teekay Tankers during the 3rd quarter worth approximately $132,000. Steward Partners Investment Advisory LLC lifted its position in shares of 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. Ieq Capital LLC bought a new position in Teekay Tankers during the fourth quarter worth $247,000. Finally, Magnetar Financial LLC grew its holdings in Teekay Tankers by 30.3% in the fourth quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company’s stock worth $248,000 after purchasing an additional 1,445 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $38.19 on Thursday. The company has a 50-day moving average price of $39.68 and a 200-day moving average price of $44.36. The stock has a market capitalization of $1.31 billion, a P/E ratio of 3.37 and a beta of -0.16. Teekay Tankers Ltd. has a 1 year low of $35.23 and a 1 year high of $74.20.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $158.26 million. As a group, equities research analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 yield of 2.62%. Teekay Tankers’s dividend payout ratio is currently 8.83%.

Analyst Upgrades and Downgrades

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

Teekay Tankers Company 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.