JPMorgan Chase & Co. Sells 85,771 Shares of Teekay Tankers Ltd. (NYSE:TNK)

JPMorgan Chase & Co. trimmed its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 24.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,192 shares of the shipping company's stock after selling 85,771 shares during the period. JPMorgan Chase & Co. owned 0.76% of Teekay Tankers worth $15,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted 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 worth $86,249,000 after acquiring an additional 124,659 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Teekay Tankers by 20.9% during the second quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company's stock worth $49,172,000 after purchasing an additional 123,500 shares during the last quarter. American Century Companies Inc. lifted its stake in Teekay Tankers by 15.0% during the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company's stock worth $49,495,000 after purchasing an additional 93,788 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Teekay Tankers by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock worth $52,815,000 after purchasing an additional 80,217 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of 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. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Stock Up 8.0 %

Shares of Teekay Tankers stock traded up $3.38 on Friday, hitting $45.49. The stock had a trading volume of 792,608 shares, compared to its average volume of 525,218. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20. The stock's 50-day simple moving average is $41.20 and its two-hundred day simple moving average is $52.36. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 1.13 and a beta of -0.40.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers's dividend payout ratio (DPR) is presently 8.21%.

Analyst Upgrades and Downgrades

TNK has been the subject of a number of recent research reports. StockNews.com initiated coverage on Teekay Tankers in a research report on Thursday, October 10th. They issued a "hold" rating for the company. Jefferies Financial Group lowered their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Fearnley Fonds raised shares of Teekay Tankers to a "strong-buy" rating in a report on Friday, September 27th. Finally, Bank of America reissued an "underperform" rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average 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.