Glenorchy Capital Ltd Invests $2.79 Million in Teekay Tankers Ltd. (NYSE:TNK)

Glenorchy Capital Ltd acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 55,766 shares of the shipping company’s stock, valued at approximately $2,787,000. Teekay Tankers makes up approximately 1.1% of Glenorchy Capital Ltd’s investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bleakley Financial Group LLC grew its position in shares of Teekay Tankers by 3.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,396 shares of the shipping company’s stock worth $370,000 after buying an additional 255 shares in the last quarter. Simplicity Solutions LLC grew its position in shares of Teekay Tankers by 3.6% during the fourth quarter. Simplicity Solutions LLC now owns 7,396 shares of the shipping company’s stock worth $370,000 after buying an additional 255 shares in the last quarter. CWM LLC boosted its holdings in Teekay Tankers by 10,816.7% in the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 649 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Teekay Tankers by 7.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,110 shares of the shipping company’s stock valued at $555,000 after purchasing an additional 802 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new position in Teekay Tankers in the third quarter valued at approximately $35,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of TNK stock traded up $0.21 during trading hours on Tuesday, hitting $56.48. The stock had a trading volume of 201,834 shares, compared to its average volume of 440,963. The firm has a market capitalization of $1.93 billion, a PE ratio of 3.80, a PEG ratio of 1.32 and a beta of -0.28. Teekay Tankers Ltd. has a twelve month low of $35.00 and a twelve month high of $64.42. The stock’s 50 day moving average is $56.52 and its 200 day moving average is $53.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.81). The firm had revenue of $194.46 million during the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. As a group, research analysts forecast that Teekay Tankers Ltd. will post 14.28 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, March 1st. Teekay Tankers’s payout ratio is currently 6.73%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TNK. Bank of America raised Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price target for the company from $56.00 to $72.00 in a report on Friday, January 19th. Evercore ISI lowered their price target on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. StockNews.com raised Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $70.00 price target on shares of Teekay Tankers in a report on Thursday, February 22nd.

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.