Amundi Invests $325,000 in Teekay Tankers Ltd. (NYSE:TNK)

Amundi acquired a new position in Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, HoldingsChannel reports. The firm acquired 7,727 shares of the shipping company’s stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TNK. Empowered Funds LLC bought a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $7,248,000. FMR LLC grew its holdings in shares of Teekay Tankers by 9.2% in the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after acquiring an additional 124,659 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after acquiring an additional 80,217 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Teekay Tankers by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock valued at $17,867,000 after acquiring an additional 72,798 shares in the last quarter. Finally, Denali Advisors LLC bought a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $2,204,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Teekay Tankers Trading Down 3.5 %

Shares of NYSE TNK opened at $38.57 on Friday. The stock has a fifty day simple moving average of $40.64 and a two-hundred day simple moving average of $45.29. Teekay Tankers Ltd. has a 1-year low of $35.23 and a 1-year high of $74.20. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 3.41 and a beta of -0.44.

Teekay Tankers (NYSE:TNK) last posted its quarterly 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 analyst estimates of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. Analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

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.