FMR LLC grew its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,480,670 shares of the shipping company's stock after acquiring an additional 124,659 shares during the quarter. FMR LLC owned 4.32% of Teekay Tankers worth $86,249,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Teekay Tankers by 25.4% during the third quarter. The Manufacturers Life Insurance Company now owns 98,361 shares of the shipping company's stock worth $5,730,000 after buying an additional 19,895 shares in the last quarter. Foundry Partners LLC raised 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 in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Teekay Tankers by 3.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 78,644 shares of the shipping company's stock valued at $4,581,000 after purchasing an additional 2,639 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Teekay Tankers during the 3rd quarter worth $503,000. Finally, Victory Capital Management Inc. boosted its stake in Teekay Tankers by 261.7% in the third quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company's stock valued at $2,655,000 after buying an additional 32,983 shares in the last quarter. Institutional investors own 52.67% of the company's stock.
Teekay Tankers Price Performance
Shares of NYSE:TNK traded down $1.04 during trading on Friday, hitting $38.77. 382,899 shares of the company were exchanged, compared to its average volume of 357,085. Teekay Tankers Ltd. has a 52-week low of $38.48 and a 52-week high of $74.20. The stock has a 50 day moving average of $49.31 and a 200 day moving average of $58.01. The company has a market cap of $1.33 billion, a PE ratio of 3.19, a P/E/G ratio of 1.24 and a beta of -0.39.
Teekay Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.58%. Teekay Tankers's dividend payout ratio is currently 8.21%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on TNK. StockNews.com started coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a "hold" rating for the company. Fearnley Fonds raised Teekay Tankers to a "strong-buy" rating in a research note on Friday, September 27th. Bank of America restated an "underperform" rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Finally, Jefferies Financial Group decreased their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. One research 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 data from MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and an average price target of $63.67.
View Our Latest Stock Report on TNK
About Teekay Tankers
(
Free Report)
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.
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