Systematic Financial Management LP Raises Position in Teekay Tankers Ltd. (NYSE:TNK)

Systematic Financial Management LP raised its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 15.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,780 shares of the shipping company's stock after purchasing an additional 23,589 shares during the quarter. Systematic Financial Management LP owned 0.53% of Teekay Tankers worth $10,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TNK. Fifth Third Bancorp boosted its holdings in Teekay Tankers by 266.7% in the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock valued at $43,000 after purchasing an additional 456 shares in the last quarter. Quarry LP purchased a new stake in Teekay Tankers in the 2nd quarter valued at approximately $43,000. CWM LLC boosted its stake in shares of Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company's stock worth $57,000 after acquiring an additional 482 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Teekay Tankers by 14.7% in the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock worth $92,000 after acquiring an additional 172 shares during the period. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Teekay Tankers in the 3rd quarter worth approximately $132,000. Hedge funds and other institutional investors own 52.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TNK shares. Bank of America restated an "underperform" rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Jefferies Financial Group lowered their price target on Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Fearnley Fonds upgraded Teekay Tankers to a "strong-buy" rating in a report on Friday, September 27th. Finally, StockNews.com started coverage on Teekay Tankers in a report on Thursday, October 10th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.67.

Teekay Tankers Price Performance

NYSE:TNK traded down $1.04 during trading hours on Friday, reaching $38.77. 382,884 shares of the company traded hands, compared to its average volume of 357,085. The firm's 50-day moving average is $49.31 and its 200-day moving average is $58.01. The stock has a market cap of $1.33 billion, a P/E ratio of 3.19, a P/E/G ratio of 1.24 and a beta of -0.39. Teekay Tankers Ltd. has a 1-year low of $38.48 and a 1-year high of $74.20.

Teekay Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers's dividend payout ratio (DPR) is presently 8.21%.

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.