Arrowstreet Capital Limited Partnership Sells 323,979 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Arrowstreet Capital Limited Partnership lessened its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 77.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,762 shares of the shipping company's stock after selling 323,979 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.28% of Teekay Tankers worth $3,850,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after purchasing an additional 286 shares in the last quarter. Kendall Capital Management increased its stake in shares of Teekay Tankers by 3.3% during the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock worth $715,000 after purchasing an additional 580 shares during the last quarter. R Squared Ltd bought a new stake in shares of Teekay Tankers in the 4th quarter valued at about $41,000. Magnetar Financial LLC lifted its stake in Teekay Tankers by 30.3% in the 4th quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company's stock valued at $248,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in Teekay Tankers by 21.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company's stock worth $493,000 after purchasing an additional 2,211 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, February 20th. One investment 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 company. According to MarketBeat.com, Teekay Tankers has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Teekay Tankers Stock Performance

NYSE:TNK traded down $0.32 during mid-day trading on Monday, reaching $38.95. 26,183 shares of the company's stock were exchanged, compared to its average volume of 365,351. The firm has a market capitalization of $1.34 billion, a PE ratio of 3.42 and a beta of -0.16. The business's fifty day simple moving average is $38.75 and its two-hundred day simple moving average is $43.07. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $74.20.

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

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. Teekay Tankers's dividend payout ratio is currently 8.83%.

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.