Charles Schwab Investment Management Inc. Sells 27,345 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Charles Schwab Investment Management Inc. decreased its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 14.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,654 shares of the shipping company's stock after selling 27,345 shares during the period. Charles Schwab Investment Management Inc. owned about 0.47% of Teekay Tankers worth $9,300,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Teekay Tankers by 266.7% during the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock worth $43,000 after acquiring an additional 456 shares during the last quarter. Quarry LP bought a new position in Teekay Tankers in the 2nd quarter valued at $43,000. CWM LLC boosted its position in Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company's stock valued at $57,000 after buying an additional 482 shares during the last quarter. Blue Trust Inc. boosted its position in Teekay Tankers by 14.7% in the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock valued at $92,000 after buying an additional 172 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Teekay Tankers in the 2nd quarter valued at $237,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TNK shares. Jefferies Financial Group decreased their price objective on Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Bank of America reissued an "underperform" rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Fearnley Fonds raised Teekay Tankers to a "strong-buy" rating in a research note on Friday, September 27th. Finally, StockNews.com started coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Teekay Tankers Stock Up 0.1 %

Teekay Tankers stock traded up $0.05 during mid-day trading on Tuesday, hitting $39.25. 387,724 shares of the company's stock were exchanged, compared to its average volume of 356,983. The firm has a market capitalization of $1.35 billion, a P/E ratio of 3.22, a PEG ratio of 1.15 and a beta of -0.39. Teekay Tankers Ltd. has a fifty-two week low of $38.48 and a fifty-two week high of $74.20. The company's 50 day simple moving average is $48.54 and its 200-day simple moving average is $57.37.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.55%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers's payout ratio is presently 8.21%.

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.