Wexford Capital LP purchased a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,332 shares of the shipping company's stock, valued at approximately $835,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of TNK. Vanguard Group Inc. grew its stake in Teekay Tankers by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 187,115 shares of the shipping company's stock valued at $10,929,000 after buying an additional 15,537 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Teekay Tankers by 16.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,833 shares of the shipping company's stock valued at $400,000 after purchasing an additional 964 shares during the period. Simplicity Wealth LLC increased its holdings in shares of Teekay Tankers by 8.5% in the second quarter. Simplicity Wealth LLC now owns 10,387 shares of the shipping company's stock worth $715,000 after acquiring an additional 817 shares in the last quarter. Blue Trust Inc. boosted its stake in 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 purchasing an additional 172 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Teekay Tankers by 11,234.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,307 shares of the shipping company's stock worth $296,000 after acquiring an additional 4,269 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TNK shares. Bank of America reiterated an "underperform" rating and set 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 reduced their price objective 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. Fearnley Fonds raised Teekay Tankers to a "strong-buy" rating in a research note on Friday, September 27th. Finally, StockNews.com began coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.67.
Check Out Our Latest Research Report on TNK
Teekay Tankers Trading Down 2.6 %
Shares of NYSE:TNK traded down $1.04 during midday trading on Friday, reaching $38.77. The company had a trading volume of 382,899 shares, compared to its average volume of 327,657. The stock has a market cap of $1.33 billion, a P/E ratio of 3.18, a P/E/G ratio of 1.20 and a beta of -0.39. The company's 50 day moving average price is $48.92 and its 200 day moving average price is $57.79. Teekay Tankers Ltd. has a 52-week low of $38.48 and a 52-week high of $74.20.
Teekay Tankers Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers's dividend payout ratio is presently 8.21%.
Teekay Tankers 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.
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