DAVENPORT & Co LLC Sells 14,610 Shares of Teekay Tankers Ltd. (NYSE:TNK)

DAVENPORT & Co LLC trimmed its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 69.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,364 shares of the shipping company's stock after selling 14,610 shares during the quarter. DAVENPORT & Co LLC's holdings in Teekay Tankers were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TNK. FMR LLC grew its position in 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. grew its position 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 valued at $52,815,000 after purchasing an additional 80,217 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Teekay Tankers by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company's stock valued at $17,867,000 after purchasing an additional 72,798 shares during the last quarter. Shariaportfolio Inc. purchased a new stake in Teekay Tankers during the 3rd quarter valued at about $3,498,000. Finally, Foundry Partners LLC grew its position in Teekay Tankers by 89.3% during the 3rd 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 last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Stock Down 0.5 %

TNK traded down $0.21 during midday trading on Wednesday, hitting $42.04. 417,037 shares of the company traded hands, compared to its average volume of 510,430. The firm has a market capitalization of $1.44 billion, a PE ratio of 3.45, a price-to-earnings-growth ratio of 1.98 and a beta of -0.43. The company's 50-day moving average is $40.96 and its 200 day moving average is $48.71. Teekay Tankers Ltd. has a 52 week low of $36.04 and a 52 week high of $74.20.

Analysts Set New Price Targets

Several brokerages recently commented on TNK. Bank of America reissued an "underperform" rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group lowered their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.67.

Teekay Tankers 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.