Fmr LLC Acquires 124,659 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Fmr LLC raised its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 9.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,480,670 shares of the shipping company’s stock after purchasing an additional 124,659 shares during the quarter. Fmr LLC owned 4.32% of Teekay Tankers worth $86,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Teekay Tankers by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,059,543 shares of the shipping company’s stock valued at $141,723,000 after buying an additional 13,330 shares during the period. Acadian Asset Management LLC raised its stake in Teekay Tankers by 41.3% in the 2nd quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock valued at $64,361,000 after acquiring an additional 273,530 shares during the period. Principal Financial Group Inc. raised its stake in Teekay Tankers by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after acquiring an additional 80,217 shares during the period. American Century Companies Inc. lifted its holdings in Teekay Tankers by 15.0% during the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock valued at $49,495,000 after purchasing an additional 93,788 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Teekay Tankers by 20.9% during the second quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company’s stock worth $49,172,000 after purchasing an additional 123,500 shares during the period. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Stock Down 1.6 %

Teekay Tankers stock opened at $39.81 on Friday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 3.27, a PEG ratio of 1.24 and a beta of -0.39. The business has a 50-day simple moving average of $49.70 and a 200 day simple moving average of $58.14. Teekay Tankers Ltd. has a 52 week low of $39.22 and a 52 week high of $74.20.

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s payout ratio is 8.21%.

Analysts Set New Price Targets

A number of analysts recently commented on TNK shares. StockNews.com began coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating on the stock. Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their price objective on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Bank of America reissued an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. One investment 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. According to MarketBeat, Teekay Tankers has a consensus rating of “Moderate Buy” and an average price target of $63.67.

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.