Magnetar Financial LLC Grows Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Magnetar Financial LLC grew its position in Teekay Tankers Ltd. (NYSE:TNK) by 30.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,221 shares of the shipping company’s stock after buying an additional 1,445 shares during the period. Magnetar Financial LLC’s holdings in Teekay Tankers were worth $248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in Teekay Tankers by 7.3% in the fourth 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 in the last quarter. Kendall Capital Management boosted its position in shares of Teekay Tankers by 3.3% in the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company’s stock worth $715,000 after purchasing an additional 580 shares in the last quarter. R Squared Ltd purchased a new position in Teekay Tankers during the 4th quarter worth $41,000. Linden Thomas Advisory Services LLC increased its position in Teekay Tankers by 21.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock valued at $493,000 after buying an additional 2,211 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Teekay Tankers by 41.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock valued at $307,000 after buying an additional 2,248 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Price Performance

Shares of TNK stock opened at $38.57 on Monday. The business has a fifty day moving average of $40.64 and a 200 day moving average of $45.17. Teekay Tankers Ltd. has a 1 year low of $35.23 and a 1 year high of $74.20. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.41 and a beta of -0.44.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. As a group, equities research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. Teekay Tankers’s payout ratio is currently 8.83%.

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.