7,556 Shares in Teekay Tankers Ltd. (NYSE:TNK) Bought by Choreo LLC

Choreo LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,556 shares of the shipping company's stock, valued at approximately $294,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Teekay Tankers during the fourth quarter worth approximately $41,000. Linden Thomas Advisory Services LLC increased its position 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 buying an additional 2,211 shares during the period. Exchange Traded Concepts LLC increased its position in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company's stock worth $307,000 after buying an additional 2,248 shares during the period. Principal Financial Group Inc. increased its position in Teekay Tankers by 9.7% during 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 period. Finally, Geode Capital Management LLC increased its position in Teekay Tankers by 0.8% during the third quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company's stock worth $18,542,000 after buying an additional 2,403 shares during the period. Hedge funds and other institutional investors own 52.67% of the company's stock.

Analysts Set New Price Targets

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

Teekay Tankers Price Performance

Shares of NYSE:TNK traded down $0.42 during trading on Monday, reaching $40.43. The company had a trading volume of 382,748 shares, compared to its average volume of 527,914. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 3.32, a price-to-earnings-growth ratio of 1.98 and a beta of -0.43. The stock's fifty day moving average price is $41.07 and its 200 day moving average price is $48.08. Teekay Tankers Ltd. has a fifty-two week low of $36.04 and a fifty-two week high of $74.20.

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.