Simplicity Solutions LLC Has $370,000 Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Simplicity Solutions LLC boosted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,396 shares of the shipping company’s stock after acquiring an additional 255 shares during the period. Simplicity Solutions LLC’s holdings in Teekay Tankers were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Teekay Tankers by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,777,531 shares of the shipping company’s stock valued at $76,308,000 after purchasing an additional 62,864 shares in the last quarter. BlackRock Inc. raised its holdings in Teekay Tankers by 35.3% during the 3rd quarter. BlackRock Inc. now owns 1,675,406 shares of the shipping company’s stock worth $46,140,000 after buying an additional 437,348 shares during the period. Millennium Management LLC lifted its stake in Teekay Tankers by 16.0% in the fourth quarter. Millennium Management LLC now owns 1,016,716 shares of the shipping company’s stock valued at $31,325,000 after buying an additional 140,258 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Teekay Tankers by 15.5% in the fourth quarter. Morgan Stanley now owns 846,399 shares of the shipping company’s stock valued at $26,078,000 after buying an additional 113,898 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Teekay Tankers by 24.9% during the second quarter. Goldman Sachs Group Inc. now owns 709,814 shares of the shipping company’s stock worth $27,136,000 after acquiring an additional 141,534 shares in the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TNK has been the topic of several research reports. Bank of America raised shares of Teekay Tankers from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $72.00 in a research report on Friday, January 19th. StockNews.com raised Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Evercore ISI dropped their target price on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Teekay Tankers in a research report on Thursday, February 22nd.

Teekay Tankers Trading Up 1.8 %

Shares of NYSE:TNK opened at $56.53 on Friday. The company’s 50-day moving average price is $56.61 and its two-hundred day moving average price is $53.01. Teekay Tankers Ltd. has a one year low of $35.00 and a one year high of $64.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02. The stock has a market capitalization of $1.93 billion, a PE ratio of 3.80, a price-to-earnings-growth ratio of 1.30 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The company had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. On average, equities analysts forecast that Teekay Tankers Ltd. will post 14.28 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, March 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. Teekay Tankers’s payout ratio is 6.73%.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.