The Manufacturers Life Insurance Company raised its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 25.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,361 shares of the shipping company's stock after buying an additional 19,895 shares during the period. The Manufacturers Life Insurance Company owned about 0.29% of Teekay Tankers worth $5,730,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in Teekay Tankers by 266.7% during the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company's stock worth $43,000 after buying an additional 456 shares in the last quarter. Quarry LP bought a new stake in shares of Teekay Tankers in the 2nd quarter worth $43,000. CWM LLC raised its holdings in shares of Teekay Tankers by 96.8% in the third quarter. CWM LLC now owns 980 shares of the shipping company's stock valued at $57,000 after purchasing an additional 482 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Teekay Tankers by 14.7% during the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company's stock valued at $92,000 after purchasing an additional 172 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Teekay Tankers during the second quarter valued at about $237,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Jefferies Financial Group dropped their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. StockNews.com started coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They set a "hold" rating on the stock. Fearnley Fonds raised Teekay Tankers to a "strong-buy" rating in a report on Friday, September 27th. Finally, Bank of America reaffirmed an "underperform" rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. 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 company currently has an average rating of "Moderate Buy" and an average price target of $63.67.
View Our Latest Stock Analysis on Teekay Tankers
Teekay Tankers Stock Performance
Teekay Tankers stock traded down $1.04 during mid-day trading on Friday, hitting $38.77. 382,899 shares of the company traded hands, compared to its average volume of 357,085. Teekay Tankers Ltd. has a one year low of $38.48 and a one year high of $74.20. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 3.19, a price-to-earnings-growth ratio of 1.24 and a beta of -0.39. The stock has a fifty day moving average price of $49.31 and a 200-day moving average price of $58.01.
Teekay Tankers Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 annualized dividend and a yield of 2.58%. Teekay Tankers's dividend payout ratio (DPR) is presently 8.21%.
Teekay Tankers Company Profile
(
Free Report)
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.
Read More
Before you consider Teekay Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay Tankers wasn't on the list.
While Teekay Tankers currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
