California Public Employees Retirement System lessened its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 90.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,000 shares of the shipping company’s stock after selling 1,370,130 shares during the quarter. California Public Employees Retirement System owned approximately 0.08% of Teekay Tankers worth $258,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Parametric Portfolio Associates LLC raised its stake in shares of Teekay Tankers by 19.0% during the first quarter. Parametric Portfolio Associates LLC now owns 146,641 shares of the shipping company’s stock valued at $301,000 after purchasing an additional 23,438 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Teekay Tankers by 10.2% during the second quarter. Schroder Investment Management Group now owns 1,317,500 shares of the shipping company’s stock valued at $2,491,000 after purchasing an additional 122,100 shares in the last quarter. Northern Trust Corp raised its stake in shares of Teekay Tankers by 75.7% during the second quarter. Northern Trust Corp now owns 3,096,347 shares of the shipping company’s stock valued at $5,821,000 after purchasing an additional 1,334,417 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Teekay Tankers by 49.5% during the first quarter. Geode Capital Management LLC now owns 694,384 shares of the shipping company’s stock valued at $1,422,000 after purchasing an additional 229,796 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Teekay Tankers by 30.2% during the first quarter. TIAA CREF Investment Management LLC now owns 938,588 shares of the shipping company’s stock valued at $1,924,000 after purchasing an additional 217,673 shares in the last quarter. 35.91% of the stock is owned by hedge funds and other institutional investors.
Teekay Tankers Ltd. (TNK) opened at $1.47 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.67 and a current ratio of 0.67. Teekay Tankers Ltd. has a 1-year low of $1.37 and a 1-year high of $2.70.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Teekay Tankers had a negative return on equity of 0.99% and a negative net margin of 11.43%. The firm had revenue of $91.20 million for the quarter, compared to analysts’ expectations of $68.67 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The business’s revenue was down 16.8% compared to the same quarter last year. equities research analysts predict that Teekay Tankers Ltd. will post -0.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Monday, November 20th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 8.16%. The ex-dividend date of this dividend was Friday, November 17th. Teekay Tankers’s payout ratio is presently -42.86%.
A number of equities analysts recently weighed in on the company. Bank of America lowered their target price on Teekay Tankers from $1.60 to $1.30 and set an “underperform” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research raised Teekay Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company currently has a consensus rating of “Sell” and an average target price of $1.60.
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Teekay Tankers 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.
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