Macquarie Group Ltd. bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 535,020 shares of the shipping company’s stock, valued at approximately $867,000. Macquarie Group Ltd. owned 0.38% of Teekay Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in TNK. Cubist Systematic Strategies LLC lifted its position in Teekay Tankers by 21.8% in the second quarter. Cubist Systematic Strategies LLC now owns 53,279 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 9,526 shares during the period. Voya Investment Management LLC lifted its position in Teekay Tankers by 26.3% in the second quarter. Voya Investment Management LLC now owns 63,186 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 13,167 shares during the period. Nationwide Fund Advisors lifted its position in Teekay Tankers by 10.4% in the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 7,500 shares during the period. Loews Corp lifted its position in Teekay Tankers by 17.6% in the second quarter. Loews Corp now owns 87,990 shares of the shipping company’s stock valued at $165,000 after purchasing an additional 13,200 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Teekay Tankers by 16.6% in the second quarter. The Manufacturers Life Insurance Company now owns 107,413 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 15,304 shares during the period. Institutional investors and hedge funds own 35.91% of the company’s stock.
Shares of Teekay Tankers Ltd. (NYSE:TNK) remained flat at $$1.48 during trading hours on Monday. 1,292,300 shares of the stock were exchanged, compared to its average volume of 1,339,966. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.67. Teekay Tankers Ltd. has a 52-week low of $1.37 and a 52-week high of $2.78.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. Teekay Tankers had a negative net margin of 11.43% and a negative return on equity of 0.99%. The firm had revenue of $91.20 million during the quarter, compared to the consensus estimate of $68.67 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s revenue was down 16.8% compared to the same quarter last year. equities analysts forecast that Teekay Tankers Ltd. will post -0.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Monday, November 20th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.12 dividend on an annualized basis and a yield of 8.11%. Teekay Tankers’s dividend payout ratio (DPR) is presently -42.86%.
TNK has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 13th. Zacks Investment Research downgraded shares of Teekay Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, Bank of America reduced their price objective on shares of Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating for the company in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus price target of $1.60.
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Teekay Tankers Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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