Allspring Global Investments Holdings LLC Has $1.56 Million Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,838 shares of the shipping company's stock after buying an additional 9,222 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Teekay Tankers worth $1,561,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TNK. CWM LLC grew its position in shares of Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after buying an additional 482 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Teekay Tankers by 5.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company's stock worth $322,000 after acquiring an additional 277 shares during the last quarter. Custom Index Systems LLC boosted its stake in Teekay Tankers by 4.0% during the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company's stock worth $329,000 after acquiring an additional 216 shares during the last quarter. US Bancorp DE bought a new position in Teekay Tankers during the 3rd quarter worth approximately $231,000. Finally, Principal Financial Group Inc. boosted its stake in Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock worth $52,815,000 after acquiring an additional 80,217 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Price Performance

TNK traded down $0.17 during trading on Friday, reaching $40.13. The company had a trading volume of 601,875 shares, compared to its average volume of 418,256. Teekay Tankers Ltd. has a 12 month low of $36.04 and a 12 month high of $74.20. The business's fifty day moving average price is $41.24 and its 200 day moving average price is $47.68. The company has a market cap of $1.38 billion, a P/E ratio of 3.55 and a beta of -0.43.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The firm had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. As a group, sell-side analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers's payout ratio is currently 8.83%.

Analysts Set New Price Targets

Several research firms recently weighed in on TNK. Bank of America reissued an "underperform" rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Jefferies Financial Group reissued a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

About Teekay Tankers

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.