Quarry LP acquired a new position in Teekay Tankers Ltd. (NYSE:TNK – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 632 shares of the shipping company’s stock, valued at approximately $43,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in TNK. Bridgeway Capital Management LLC raised its position in Teekay Tankers by 4.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 300,892 shares of the shipping company’s stock valued at $15,036,000 after purchasing an additional 11,605 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Teekay Tankers by 51.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 57,846 shares of the shipping company’s stock valued at $3,379,000 after purchasing an additional 19,752 shares in the last quarter. Bank of New York Mellon Corp raised its position in Teekay Tankers by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 81,856 shares of the shipping company’s stock valued at $5,633,000 after purchasing an additional 11,535 shares in the last quarter. Acadian Asset Management LLC raised its position in Teekay Tankers by 40.4% during the first quarter. Acadian Asset Management LLC now owns 662,122 shares of the shipping company’s stock valued at $38,659,000 after purchasing an additional 190,407 shares in the last quarter. Finally, Boston Partners raised its position in Teekay Tankers by 160.0% during the first quarter. Boston Partners now owns 35,822 shares of the shipping company’s stock valued at $2,092,000 after purchasing an additional 22,043 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.
Teekay Tankers Price Performance
Shares of TNK opened at $61.12 on Friday. Teekay Tankers Ltd. has a one year low of $37.20 and a one year high of $74.20. The company has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $61.72. The firm has a market capitalization of $2.09 billion, a PE ratio of 4.32, a price-to-earnings-growth ratio of 1.49 and a beta of -0.33.
Teekay Tankers Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. Teekay Tankers’s payout ratio is 7.07%.
Analyst Ratings Changes
TNK has been the topic of a number of recent research reports. StockNews.com cut Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America cut their target price on Teekay Tankers from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group reissued a “buy” rating and issued a $76.00 target price on shares of Teekay Tankers in a research note on Thursday, August 1st. Finally, Evercore ISI raised their target price on Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.67.
Read Our Latest Report on Teekay Tankers
Teekay Tankers 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.
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