Teekay Tankers Ltd. (NYSE:TNK) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 161.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,982 shares of the shipping company's stock after acquiring an additional 10,490 shares during the period. Bleakley Financial Group LLC's holdings in Teekay Tankers were worth $676,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Teekay Tankers by 9.2% during the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock valued at $86,249,000 after purchasing an additional 124,659 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock worth $52,815,000 after buying an additional 80,217 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Teekay Tankers by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company's stock worth $17,867,000 after buying an additional 72,798 shares during the last quarter. Shariaportfolio Inc. purchased a new position in Teekay Tankers in the third quarter worth about $3,498,000. Finally, Foundry Partners LLC lifted its position in Teekay Tankers by 89.3% during the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company's stock valued at $6,156,000 after purchasing an additional 49,853 shares during the period. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Stock Down 2.7 %

Shares of NYSE:TNK traded down $1.14 during trading on Thursday, hitting $40.86. The stock had a trading volume of 461,230 shares, compared to its average volume of 508,732. The stock has a 50-day simple moving average of $41.02 and a two-hundred day simple moving average of $48.61. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 3.35, a price-to-earnings-growth ratio of 1.98 and a beta of -0.43. Teekay Tankers Ltd. has a 12-month low of $36.04 and a 12-month high of $74.20.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America reaffirmed an "underperform" rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Jefferies Financial Group dropped their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $63.67.

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.