O Shaughnessy Asset Management LLC Takes $1.63 Million Position in Teekay Tankers Ltd. (NYSE:TNK)

O Shaughnessy Asset Management LLC bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,026 shares of the shipping company’s stock, valued at approximately $1,632,000. O Shaughnessy Asset Management LLC owned 0.12% of Teekay Tankers at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Teekay Tankers in the 3rd quarter valued at about $329,000. Barclays PLC boosted its holdings in Teekay Tankers by 273.7% in the third quarter. Barclays PLC now owns 31,472 shares of the shipping company’s stock valued at $1,833,000 after purchasing an additional 23,051 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Teekay Tankers by 0.8% in the third quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company’s stock valued at $18,542,000 after purchasing an additional 2,403 shares during the last quarter. Principal Financial Group Inc. grew its stake in Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after purchasing an additional 80,217 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Teekay Tankers by 41.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock worth $307,000 after purchasing an additional 2,248 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Down 6.0 %

NYSE:TNK opened at $34.46 on Friday. The company has a market cap of $1.18 billion, a PE ratio of 3.04 and a beta of -0.16. The business’s 50 day moving average is $39.48 and its two-hundred day moving average is $44.07. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20.

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

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

Wall Street Analysts Forecast Growth

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

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.