Versor Investments LP bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,363 shares of the shipping company's stock, valued at approximately $720,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNK. Fifth Third Bancorp increased its holdings in shares of Teekay Tankers by 266.7% during the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock worth $43,000 after buying an additional 456 shares in the last quarter. Quarry LP bought a new position in Teekay Tankers in the second quarter valued at approximately $43,000. EntryPoint Capital LLC boosted its position in shares of Teekay Tankers by 76.5% during the first quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company's stock worth $51,000 after purchasing an additional 378 shares in the last quarter. CWM LLC boosted its position in shares of Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after purchasing an additional 482 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Teekay Tankers by 14.7% during the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock worth $92,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 52.67% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on TNK. Evercore ISI lifted their price target on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Teekay Tankers in a research report on Thursday, October 31st. Bank of America restated an "underperform" rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday. Fearnley Fonds upgraded shares of Teekay Tankers to a "strong-buy" rating in a research report on Friday, September 27th. Finally, StockNews.com began coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They issued a "hold" rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.67.
View Our Latest Analysis on Teekay Tankers
Teekay Tankers Stock Up 1.0 %
NYSE:TNK traded up $0.45 during trading hours on Wednesday, reaching $44.60. The company had a trading volume of 160,179 shares, compared to its average volume of 356,418. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 3.63, a P/E/G ratio of 1.28 and a beta of -0.32. The business's 50-day simple moving average is $53.93 and its two-hundred day simple moving average is $60.66. Teekay Tankers Ltd. has a twelve month low of $43.49 and a twelve month high of $74.20.
Teekay Tankers Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, November 12th. Teekay Tankers's dividend payout ratio is currently 8.21%.
Teekay Tankers Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Teekay Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay Tankers wasn't on the list.
While Teekay Tankers currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
