Verition Fund Management LLC Buys 25,750 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Verition Fund Management LLC raised its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 346.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,193 shares of the shipping company's stock after buying an additional 25,750 shares during the quarter. Verition Fund Management LLC owned 0.10% of Teekay Tankers worth $1,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Teekay Tankers by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,059,543 shares of the shipping company's stock worth $141,723,000 after acquiring an additional 13,330 shares in the last quarter. FMR LLC increased its position in Teekay Tankers by 9.2% in the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company's stock valued at $86,249,000 after buying an additional 124,659 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Teekay Tankers by 41.3% in the second quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company's stock worth $64,361,000 after acquiring an additional 273,530 shares in the last quarter. Principal Financial Group Inc. grew its stake in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company's stock valued at $52,815,000 after acquiring an additional 80,217 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Teekay Tankers by 15.0% during the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company's stock valued at $49,495,000 after acquiring an additional 93,788 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on TNK shares. StockNews.com began coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They set a "hold" rating for the company. Bank of America reissued an "underperform" rating and issued a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Fearnley Fonds upgraded Teekay Tankers to a "strong-buy" rating in a report on Friday, September 27th. Finally, Jefferies Financial Group cut their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Teekay Tankers Trading Down 2.6 %

Shares of TNK stock traded down $1.04 during trading on Friday, hitting $38.77. The company's stock had a trading volume of 382,884 shares, compared to its average volume of 357,085. 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. The business has a fifty day moving average of $49.31 and a 200-day moving average of $58.01. Teekay Tankers Ltd. has a 52 week low of $38.48 and a 52 week high of $74.20.

Teekay Tankers Announces Dividend

The firm also recently disclosed 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 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 (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.