Ameriprise Financial Inc. boosted its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,960,987 shares of the company’s stock after buying an additional 8,985 shares during the period. Ameriprise Financial Inc. owned about 1.26% of Teekay Tankers worth $5,843,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Teekay Tankers during the second quarter worth approximately $117,000. Wedbush Securities Inc. increased its stake in shares of Teekay Tankers by 2.4% in the second quarter. Wedbush Securities Inc. now owns 137,250 shares of the company’s stock worth $409,000 after buying an additional 3,250 shares in the last quarter. Mount Lucas Management LP increased its stake in shares of Teekay Tankers by 13.3% in the first quarter. Mount Lucas Management LP now owns 151,574 shares of the company’s stock worth $556,000 after buying an additional 17,740 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of Teekay Tankers during the second quarter worth approximately $543,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Teekay Tankers during the first quarter worth approximately $762,000. 52.62% of the stock is currently owned by institutional investors.
Shares of Teekay Tankers Ltd. (NYSE:TNK) traded down 0.909% during mid-day trading on Wednesday, reaching $2.725. 304,108 shares of the company were exchanged. The firm has a market capitalization of $425.92 million, a price-to-earnings ratio of 2.672 and a beta of 2.29. The company’s 50-day moving average is $2.62 and its 200 day moving average is $3.18. Teekay Tankers Ltd. has a 12 month low of $2.42 and a 12 month high of $8.53.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Teekay Tankers had a net margin of 26.09% and a return on equity of 18.71%. The company earned $139.62 million during the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. Analysts predict that Teekay Tankers Ltd. will post $0.81 EPS for the current year.
A number of equities research analysts have commented on the stock. Danske reissued a “sell” rating on shares of Teekay Tankers in a research report on Monday, August 8th. Vetr downgraded shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.05 price objective on the stock. in a research report on Thursday, October 6th. Zacks Investment Research raised shares of Teekay Tankers from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Morgan Stanley set a $3.60 target price on shares of Teekay Tankers and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Clarkson Capital cut shares of Teekay Tankers from a “buy” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $3.00 in a report on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.18.
Teekay Tankers Company Profile
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.