TIAA CREF Investment Management LLC Has $1.92 Million Stake in Teekay Tankers Ltd. (TNK)

TIAA CREF Investment Management LLC raised its position in Teekay Tankers Ltd. (NYSE:TNK) by 30.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 938,588 shares of the shipping company’s stock after buying an additional 217,673 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.60% of Teekay Tankers worth $1,924,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Systematic Financial Management LP acquired a new position in Teekay Tankers during the first quarter worth about $1,525,000. American International Group Inc. boosted its position in shares of Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Teekay Tankers by 2.6% in the first quarter. Schroder Investment Management Group now owns 1,195,400 shares of the shipping company’s stock worth $2,498,000 after buying an additional 29,800 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teekay Tankers by 2,453.3% in the first quarter. JPMorgan Chase & Co. now owns 79,636 shares of the shipping company’s stock worth $163,000 after buying an additional 76,517 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Teekay Tankers by 19.0% in the first quarter. Parametric Portfolio Associates LLC now owns 146,641 shares of the shipping company’s stock worth $301,000 after buying an additional 23,438 shares in the last quarter. Hedge funds and other institutional investors own 40.58% of the company’s stock.

Shares of Teekay Tankers Ltd. (NYSE:TNK) opened at 1.45 on Friday. The stock’s market capitalization is $246.45 million. The stock’s 50 day moving average price is $1.69 and its 200 day moving average price is $1.99. Teekay Tankers Ltd. has a 12 month low of $1.44 and a 12 month high of $2.91.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $89.40 million during the quarter, compared to analysts’ expectations of $80.68 million. Teekay Tankers had a positive return on equity of 0.39% and a negative net margin of 7.38%. Teekay Tankers’s revenue for the quarter was down 36.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. Analysts expect that Teekay Tankers Ltd. will post ($0.20) EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date was Thursday, August 10th. Teekay Tankers’s dividend payout ratio (DPR) is presently -63.16%.

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A number of equities analysts recently issued reports on the company. Bank of America Corporation reiterated an “underperform” rating and issued a $1.80 target price (down from $2.25) on shares of Teekay Tankers in a report on Wednesday, May 17th. ValuEngine lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. UBS AG reissued a “sell” rating and issued a $1.50 price target (down from $2.00) on shares of Teekay Tankers in a research report on Friday, June 9th. BidaskClub lowered Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.31.

About Teekay Tankers

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.

Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

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