Fox Run Management L.L.C. Has $969,000 Stake in Teekay Tankers Ltd. $TNK

Fox Run Management L.L.C. lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 108.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,162 shares of the shipping company’s stock after acquiring an additional 9,988 shares during the period. Fox Run Management L.L.C. owned 0.06% of Teekay Tankers worth $969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TNK. State of Alaska Department of Revenue bought a new stake in Teekay Tankers in the third quarter valued at $54,000. Osaic Holdings Inc. grew its stake in shares of Teekay Tankers by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,123 shares during the period. Global Retirement Partners LLC increased its position in Teekay Tankers by 162.6% in the 3rd quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock valued at $104,000 after buying an additional 1,278 shares in the last quarter. State of Wyoming bought a new stake in Teekay Tankers in the 2nd quarter valued at about $129,000. Finally, Tower Research Capital LLC TRC raised its stake in Teekay Tankers by 46.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,194 shares of the shipping company’s stock worth $133,000 after buying an additional 1,015 shares during the period. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Trading Up 3.2%

Shares of Teekay Tankers stock opened at $77.20 on Friday. The company has a market capitalization of $2.66 billion, a P/E ratio of 7.65 and a beta of -0.27. The stock has a fifty day simple moving average of $62.43 and a 200 day simple moving average of $56.85. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $77.50.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Wednesday, February 18th. The shipping company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.09. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.The business had revenue of $158.78 million for the quarter, compared to analysts’ expectations of $179.70 million. During the same period last year, the business earned $1.50 EPS. The business’s revenue was down .3% on a year-over-year basis. On average, analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.00 annualized dividend and a yield of 1.3%. Teekay Tankers’s payout ratio is 9.91%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TNK shares. Dnb Carnegie cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Evercore restated an “outperform” rating and set a $84.00 price objective on shares of Teekay Tankers in a report on Friday, February 20th. Jefferies Financial Group raised their price objective on shares of Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Teekay Tankers currently has a consensus rating of “Buy” and an average price target of $77.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.