Jacobs Levy Equity Management Inc. Has $11.88 Million Position in Teekay Tankers Ltd. (NYSE:TNK)

Jacobs Levy Equity Management Inc. reduced its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 2.7% during the 4th quarter, HoldingsChannel reports. The firm owned 298,513 shares of the shipping company’s stock after selling 8,219 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Teekay Tankers were worth $11,878,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC grew its position in Teekay Tankers by 273.7% during the third quarter. Barclays PLC now owns 31,472 shares of the shipping company’s stock worth $1,833,000 after buying an additional 23,051 shares in the last quarter. Principal Financial Group Inc. grew its position in Teekay Tankers by 9.7% during the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock worth $52,815,000 after buying an additional 80,217 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock worth $307,000 after buying an additional 2,248 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Teekay Tankers by 21.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock worth $493,000 after buying an additional 2,211 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Teekay Tankers during the fourth quarter worth about $41,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Down 0.2%

Shares of TNK opened at $45.21 on Tuesday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 3.99 and a beta of -0.10. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $74.20. The company has a 50-day moving average price of $39.41 and a two-hundred day moving average price of $40.89.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.32). Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The firm had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. During the same quarter last year, the firm posted $4.23 EPS. The business’s revenue was down 37.1% on a year-over-year basis. Equities research analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $1.00 dividend. This represents a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from Teekay Tankers’s previous — dividend of $0.25. Teekay Tankers’s payout ratio is 10.72%.

Analyst Ratings Changes

A number of research analysts have commented on TNK shares. Evercore ISI cut their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, May 8th. One 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.67.

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.