Empowered Funds LLC Purchases 10,500 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Empowered Funds LLC lifted its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 8.1% in the first quarter, HoldingsChannel.com reports. The fund owned 139,392 shares of the shipping company’s stock after buying an additional 10,500 shares during the period. Empowered Funds LLC’s holdings in Teekay Tankers were worth $8,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TNK. Tucker Asset Management LLC bought a new stake in Teekay Tankers during the fourth quarter worth $38,000. Daiwa Securities Group Inc. bought a new stake in shares of Teekay Tankers during the 4th quarter worth $80,000. Assetmark Inc. boosted its stake in Teekay Tankers by 82.6% in the fourth quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock valued at $138,000 after buying an additional 1,248 shares in the last quarter. Ritholtz Wealth Management bought a new position in Teekay Tankers in the fourth quarter valued at about $219,000. Finally, Mackenzie Financial Corp acquired a new position in Teekay Tankers during the fourth quarter worth about $227,000. Institutional investors own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TNK shares. Bank of America raised their price target on shares of Teekay Tankers from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, May 10th. StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Finally, Jefferies Financial Group raised their price objective on Teekay Tankers from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, May 9th.

Teekay Tankers Trading Down 2.0 %

NYSE:TNK traded down $1.29 on Friday, reaching $62.94. 214,895 shares of the stock traded hands, compared to its average volume of 287,521. Teekay Tankers Ltd. has a 1-year low of $36.54 and a 1-year high of $74.20. The company’s 50 day moving average is $68.86 and its 200-day moving average is $60.89. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 4.45, a price-to-earnings-growth ratio of 1.46 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.16. Teekay Tankers had a net margin of 37.39% and a return on equity of 30.73%. The company had revenue of $221.81 million for the quarter. On average, equities research analysts forecast that Teekay Tankers Ltd. will post 14.69 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently declared a None dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were paid a $2.25 dividend. This represents a yield of 1.5%. The ex-dividend date of this dividend was Monday, May 20th. Teekay Tankers’s dividend payout ratio (DPR) is presently 7.07%.

About Teekay Tankers

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.