Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 22.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,080 shares of the shipping company's stock after selling 35,574 shares during the period. Charles Schwab Investment Management Inc. owned about 0.36% of Teekay Tankers worth $4,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. R Squared Ltd bought a new stake in shares of Teekay Tankers in the 4th quarter worth about $41,000. Millburn Ridgefield Corp acquired a new position in Teekay Tankers in the third quarter worth about $132,000. Steward Partners Investment Advisory LLC increased its holdings in Teekay Tankers by 7.3% in the fourth 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 last quarter. ClearAlpha Technologies LP acquired a new stake in Teekay Tankers during the third quarter valued at approximately $255,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Teekay Tankers during the third quarter valued at approximately $329,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Trading Up 1.3 %

NYSE TNK traded up $0.49 during trading hours on Friday, reaching $38.66. The company's stock had a trading volume of 255,627 shares, compared to its average volume of 355,296. The stock has a market cap of $1.33 billion, a PE ratio of 3.42 and a beta of -0.44. The business has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $44.71. Teekay Tankers Ltd. has a 52 week low of $35.23 and a 52 week high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.01. The business had revenue of $163.42 million for 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%. As a group, equities analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. Teekay Tankers's dividend payout ratio (DPR) is 8.83%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 target price 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Teekay Tankers currently has an average rating of "Moderate Buy" and a consensus price target 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.