Greenland Capital Management LP Takes $1.01 Million Position in Teekay Tankers Ltd. $TNK

Greenland Capital Management LP acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,010 shares of the shipping company’s stock, valued at approximately $1,012,000. Greenland Capital Management LP owned approximately 0.06% of Teekay Tankers as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in Teekay Tankers in the 3rd quarter worth about $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 in the last quarter. Global Retirement Partners LLC increased its holdings in Teekay Tankers by 162.6% in the third quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock worth $104,000 after buying an additional 1,278 shares during the last quarter. State of Wyoming bought a new position in Teekay Tankers during the second quarter valued at approximately $129,000. Finally, Tower Research Capital LLC TRC raised its position in Teekay Tankers by 46.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,194 shares of the shipping company’s stock valued at $133,000 after acquiring an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $71.81 on Tuesday. The firm has a market cap of $2.48 billion, a P/E ratio of 7.12 and a beta of -0.27. The firm’s 50-day simple moving average is $61.15 and its 200-day simple moving average is $56.37. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.70.

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

Teekay Tankers Dividend Announcement

The business 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 $0.25 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Teekay Tankers’s dividend payout ratio (DPR) is currently 9.91%.

Analyst Ratings Changes

TNK has been the subject of a number of analyst reports. Wall Street Zen cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Evercore reissued an “outperform” rating and issued a $84.00 price objective on shares of Teekay Tankers in a research note on Friday. Zacks Research raised Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a report on Monday, December 29th. Finally, DNB Markets cut shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.