Russell Investments Group Ltd. Sells 88,403 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Russell Investments Group Ltd. trimmed its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,427 shares of the shipping company's stock after selling 88,403 shares during the period. Russell Investments Group Ltd. owned 0.44% of Teekay Tankers worth $5,986,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its position in Teekay Tankers by 273.7% during the 3rd quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock valued at $1,833,000 after acquiring an additional 23,051 shares during the period. Principal Financial Group Inc. grew its stake 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 buying an additional 80,217 shares during the last quarter. Franklin Resources Inc. bought a new position in Teekay Tankers during the 4th quarter valued at approximately $5,131,000. ABC Arbitrage SA bought a new position in Teekay Tankers during the 4th quarter valued at approximately $372,000. Finally, Proficio Capital Partners LLC purchased a new position in Teekay Tankers during the fourth quarter valued at $629,000. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded up $1.41 during mid-day trading on Thursday, reaching $39.72. 224,183 shares of the company traded hands, compared to its average volume of 367,711. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20. The firm has a market cap of $1.36 billion, a PE ratio of 3.51 and a beta of -0.16. The company's 50 day moving average price is $38.48 and its 200-day moving average price is $42.86.

Remove Ads

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. On average, research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.52%. Teekay Tankers's payout ratio is currently 8.83%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, February 20th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Teekay Tankers has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.