Farther Finance Advisors LLC Has $202,000 Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Farther Finance Advisors LLC cut its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 16.8% during the 4th quarter, Holdings Channel reports. The firm owned 5,088 shares of the shipping company’s stock after selling 1,026 shares during the quarter. Farther Finance Advisors LLC’s holdings in Teekay Tankers were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $41,000. Millburn Ridgefield Corp acquired a new position in shares of Teekay Tankers during the 3rd quarter worth about $132,000. Steward Partners Investment Advisory LLC increased its stake 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 worth $168,000 after purchasing an additional 286 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $247,000. Finally, ClearAlpha Technologies LP acquired a new position in shares of Teekay Tankers during the 3rd quarter worth about $255,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of TNK opened at $39.52 on Thursday. Teekay Tankers Ltd. has a 52 week low of $35.23 and a 52 week high of $74.20. The firm has a market cap of $1.36 billion, a P/E ratio of 3.49 and a beta of -0.44. The firm’s 50-day simple moving average is $40.82 and its 200 day simple moving average is $45.46.

Teekay Tankers (NYSE:TNK) last announced its quarterly 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. 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 analyst estimates of $158.26 million. As a group, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s dividend payout ratio is currently 8.83%.

Wall Street Analyst Weigh In

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