Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 48.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,164 shares of the shipping company's stock after selling 38,885 shares during the period. Sei Investments Co. owned 0.12% of Teekay Tankers worth $1,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $41,000. Steward Partners Investment Advisory LLC raised its holdings in Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after acquiring an additional 286 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Teekay Tankers during the 3rd quarter worth $329,000. Ieq Capital LLC acquired a new stake in shares of Teekay Tankers during the fourth quarter worth $247,000. Finally, Magnetar Financial LLC grew its position in shares of Teekay Tankers by 30.3% in the fourth quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company's stock valued at $248,000 after purchasing an additional 1,445 shares during the period. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Stock Down 1.7 %

Shares of NYSE TNK traded down $0.63 during trading on Thursday, hitting $35.61. 659,393 shares of the company traded hands, compared to its average volume of 365,907. The firm has a market capitalization of $1.22 billion, a P/E ratio of 3.15 and a beta of -0.16. The company has a 50-day moving average price of $38.84 and a 200-day moving average price of $43.30. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20.

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

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers's dividend payout ratio (DPR) is presently 8.83%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

About Teekay Tankers

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.