Alliancebernstein L.P. Decreases Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Alliancebernstein L.P. decreased its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 58.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,620 shares of the shipping company's stock after selling 34,555 shares during the period. Alliancebernstein L.P. owned approximately 0.07% of Teekay Tankers worth $980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. R Squared Ltd purchased a new stake in shares of Teekay Tankers during the 4th quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new position in shares of Teekay Tankers during the 4th quarter worth $77,000. New Age Alpha Advisors LLC acquired a new stake in shares of Teekay Tankers during the 4th quarter worth about $132,000. 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 buying an additional 286 shares during the period. Finally, Ieq Capital LLC purchased a new position in Teekay Tankers during the fourth quarter worth about $247,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

Shares of NYSE TNK traded up $0.84 during trading on Thursday, hitting $40.23. 139,931 shares of the company were exchanged, compared to its average volume of 370,994. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 3.56 and a beta of -0.16. The firm's fifty day moving average price is $38.25 and its 200 day moving average price is $42.15.

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

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 2.49%. Teekay Tankers's payout ratio is currently 8.83%.

Analyst Ratings Changes

TNK has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. Evercore ISI reduced their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.67.

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.